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Whales Make a Splash with DDOG Options

Investors are keeping a close eye on the options activity surrounding DocuSign (DDOG) as whales make a significant move in the digital signature company's options market.

According to data from Benzinga Pro, a large number of DDOG calls have been purchased by institutional investors, also known as "whales," in the past few days. This type of activity is often seen as a sign of bullish sentiment, as it suggests that these sophisticated investors are betting on the stock's price to rise.

The majority of the activity has been concentrated in the near-term options, with the April 15 and April 22 expirations seeing the most buying activity. The strikes that have seen the most buying are the 65 and 70 call options, which suggests that these investors are targeting a significant move higher in the stock's price.

DDOG has been a hot topic lately, with the company's stock price surging over 10% in the past month. The company's strong earnings report and guidance have been cited as the primary drivers of the stock's rally.

The recent options activity could be a sign that investors are looking to ride the momentum higher. However, it's important to note that options trading can be risky and is not suitable for all investors.

As of the time of this writing, DDOG is trading at around $64 per share. The stock has a 52-week range of $44.91 to $71.45. The company's next earnings report is scheduled for April 28.