27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Investors with a lot of money to spend have taken a bullish stance on Datadog (NASDAQ:DDOG).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DDOG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 23 options trades for Datadog.
This isn't normal.
The overall sentiment of these big-money traders is split between 73% bullish and 26%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $32,500, and 22, calls, for a total amount of $1,137,067.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $110.0 to $129.0 for Datadog during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Datadog's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Datadog's whale activity within a strike price range from $110.0 to $129.0 in the last 30 days.
Datadog Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DDOG | CALL | SWEEP | BEARISH | 04/19/24 | $126.00 | $179.8K | 20 | 2.3K |
| DDOG | CALL | SWEEP | BULLISH | 04/19/24 | $126.00 | $128.2K | 20 | 712 |
| DDOG | CALL | SWEEP | BEARISH | 04/19/24 | $126.00 | $59.9K | 20 | 318 |
| DDOG | CALL | SWEEP | BEARISH | 04/19/24 | $126.00 | $58.8K | 20 | 1.7K |
| DDOG | CALL | SWEEP | BULLISH | 04/19/24 | $126.00 | $54.2K | 20 | 610 |
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 trading volume of 330,273, the price of DDOG is up by 2.65%, reaching $126.71.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 42 days from now.
What The Experts Say On Datadog
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $150.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $150.
- An analyst from Canaccord Genuity has revised its rating downward to Buy, adjusting the price target to $150.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Datadog, Benzinga Pro gives you real-time options trades alerts.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!