What the Options Market Tells Us About Datadog
Deep-pocketed investors have adopted a bullish approach towards Datadog (NASDAQ: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 12 extraordinary options activities for Datadog. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 75% leaning bullish and 16% bearish. Among these notable options, 3 are puts, totaling $611,720, and 9 are calls, amounting to $433,844.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $130.0 for Datadog during the past quarter.
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 Activity Analysis: 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 | TRADE | BULLISH | 08/23/24 | $1.56 | $1.13 | $1.16 | $100.00 | $522.0K | 4 | 4.5K |
| DDOG | CALL | SWEEP | NEUTRAL | 01/17/25 | $13.2 | $13.15 | $13.2 | $125.00 | $97.6K | 2.7K | 78 |
| DDOG | CALL | SWEEP | BULLISH | 08/02/24 | $1.13 | $1.05 | $1.04 | $130.00 | $74.0K | 2.6K | 710 |
| DDOG | PUT | TRADE | BULLISH | 08/02/24 | $4.2 | $4.15 | $4.15 | $120.00 | $52.7K | 1.3K | 168 |
| DDOG | CALL | SWEEP | BULLISH | 08/02/24 | $2.47 | $2.3 | $2.3 | $125.00 | $50.4K | 251 | 227 |
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.
In light of the recent options history for Datadog, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Datadog Standing Right Now?
- With a volume of 1,671,422, the price of DDOG is down -3.81% at $118.51.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 15 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 $157.0.
- Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $155.
- An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $150.
- Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Datadog with a target price of $160.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $165.
- In a positive move, an analyst from Mizuho has upgraded their rating to Outperform and adjusted the price target to $155.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Datadog options trades with real-time alerts from Benzinga Pro.