Smart Money Is Betting Big In DDOG Options

Author: Benzinga Insights | May 31, 2024 12:01pm

Whales with a lot of money to spend have taken a noticeably bullish stance on Datadog.

Looking at options history for Datadog (NASDAQ:DDOG) we detected 30 trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 16 are puts, for a total amount of $1,089,123 and 14, calls, for a total amount of $797,303.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $130.0 for Datadog over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $85.0 to $130.0 in the last 30 days.

Datadog Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
DDOG	CALL	TRADE	BEARISH	07/19/24	$2.31	$2.12	$2.12	$120.00	$212.0K	1.3K	1.5K
DDOG	PUT	SWEEP	BULLISH	08/16/24	$2.57	$2.46	$2.57	$95.00	$175.6K	8	683
DDOG	PUT	TRADE	BULLISH	08/16/24	$2.71	$2.54	$2.57	$95.00	$166.0K	8	683
DDOG	PUT	TRADE	BULLISH	08/16/24	$5.95	$5.75	$5.8	$105.00	$142.6K	1.0K	428
DDOG	CALL	SWEEP	BULLISH	07/19/24	$5.8	$5.65	$5.8	$110.00	$116.0K	275	297

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.

Current Position of Datadog

• With a volume of 4,168,036, the price of DDOG is down -6.37% at $109.97.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 67 days.

Expert Opinions on Datadog

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $152.0.

• An analyst from Barclays has decided to maintain their Overweight rating on Datadog, which currently sits at a price target of $145.
• An analyst from BMO Capital has decided to maintain their Outperform rating on Datadog, which currently sits at a price target of $140.
• An analyst from Wedbush has revised its rating downward to Outperform, adjusting the price target to $155.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $165.
• An analyst from B of A Securities has elevated its stance to Buy, setting a new price target at $155.

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.

Posted In: DDOG