Investors with significant funds have taken a bullish position in Datadog DDOG, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in DDOG usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Datadog. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 75% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $887,556, and there was a single call, worth $28,340.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $130.0 for Datadog over the last 3 months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Datadog's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Datadog's substantial trades, within a strike price spectrum from $100.0 to $130.0 over the preceding 30 days.
Datadog Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DDOG | PUT | SWEEP | BULLISH | 11/15/24 | $4.1 | $3.9 | $3.95 | $105.00 | $214.9K | 84 | 676 |
| DDOG | PUT | SWEEP | BULLISH | 11/15/24 | $4.05 | $3.95 | $3.95 | $105.00 | $199.9K | 84 | 1.1K |
| DDOG | PUT | SWEEP | BULLISH | 11/15/24 | $4.05 | $3.95 | $3.95 | $105.00 | $198.3K | 84 | 2.0K |
| DDOG | PUT | SWEEP | BULLISH | 11/15/24 | $4.05 | $3.9 | $3.95 | $105.00 | $149.7K | 84 | 1.5K |
| DDOG | PUT | SWEEP | BEARISH | 11/15/24 | $2.74 | $2.48 | $2.73 | $100.00 | $53.2K | 24 | 470 |
About Datadog
Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered via software as a service, allows a client to monitor and analyze its entire IT infrastructure. Datadog's platform can ingest and analyze large amounts of machine-generated data in real time, allowing clients to utilize it for a variety of applications throughout their businesses.
After a thorough review of the options trading surrounding Datadog, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Datadog
- With a volume of 1,380,210, the price of DDOG is down -0.2% at $117.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 71 days.
Expert Opinions on Datadog
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $140.2.
- An analyst from BMO Capital persists with their Outperform rating on Datadog, maintaining a target price of $132.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $151.
- Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Datadog with a target price of $140.
- An analyst from BTIG has elevated its stance to Buy, setting a new price target at $143.
- Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Datadog, targeting a price of $135.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Datadog with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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