Deep-pocketed investors have adopted a bullish approach towards Datadog DDOG, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DDOG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for Datadog. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 6 are puts, totaling $427,710, and 3 are calls, amounting to $179,960.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $155.0 for Datadog during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Datadog options trades today is 967.4 with a total volume of 1,462.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Datadog's big money trades within a strike price range of $125.0 to $155.0 over the last 30 days.
Datadog Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DDOG | PUT | TRADE | BULLISH | 04/19/24 | $125.00 | $165.7K | 826 | 1 |
| DDOG | PUT | SWEEP | BULLISH | 01/16/26 | $125.00 | $119.9K | 26 | 98 |
| DDOG | CALL | SWEEP | BULLISH | 02/09/24 | $126.00 | $94.8K | 811 | 310 |
| DDOG | PUT | TRADE | BEARISH | 01/16/26 | $125.00 | $61.2K | 26 | 132 |
| DDOG | CALL | SWEEP | NEUTRAL | 02/02/24 | $126.00 | $58.0K | 690 | 503 |
About Datadog
Datadog is a cloud-native company that focuses on analyzing machine data. The firm's product portfolio, delivered as 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 different 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.
Current Position of Datadog
- With a volume of 1,492,932, the price of DDOG is down -3.51% at $122.38.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 13 days.
Professional Analyst Ratings for Datadog
3 market experts have recently issued ratings for this stock, with a consensus target price of $143.33333333333334.
- In a cautious move, an analyst from BMO Capital downgraded its rating to Outperform, setting a price target of $140.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Datadog, targeting a price of $140.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Datadog with a target price of $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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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