DDOGDatadog, Inc. Class A Common Stock
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $44.8B|NASDAQ
● 2026-04-17$126.61
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +42.4%YTD -5.4%7D +20.2%
Options Vol
33,388
30D
Implied Move
±22.1%
IV Rank
62%
DDOG Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 97.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.14x — IV premium over HV
Sector Relative≤50%
Sector percentile 89% — above sector median
Term Structure
<1.1xFront/Back 1.09x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 72.2% — normal range
Spread-Adjusted Value
<80%Effective IV 98.6% (ATM 72.2% + spread 13.2% + bias) — expensive
Execution Efficiency
<3.0%Total drag 20.54% (spread 13.18% + slippage 7.36%) — high friction
Vega Efficiency
≥5.0Vega efficiency 12.77 (vega 16.831 / spread 13.18%) — efficient
Sentiment
Bullish or bearish?
6.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Weak signal (Conviction: +16%, Raw: +8%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +16% (bullish) — Raw: +8%
OI Skew Magnitude
≥15%|OI skew| 4.3% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +26.6%, OI skew -4.3% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 35%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +36%, ATM: +8%, OTM: +4% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 48% — neutral vs sector
Activity
Unusual activity?
6.2
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks5/9 checks passed
Volume Surge
≥1.5xVolume 1.8x avg — elevated
Turnover Rate
≥15%Vol/OI 11.4% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days2 day(s) elevated — sustained
OI Build
≥5%OI change +15.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 75% — active vs sector
Trade Quality
≥30%Large trade volume 42% — institutional presence
Execution Urgency
≥60%Aggressive execution 29% — patient
Flow Conviction
≥30Conviction +16 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 13.2% — wide
Adequate OI
≥10,000OI 294,009 — deep
Active Volume
≥500Volume 33,388/day — active
Reasonable Cost
≤$0.50$0.66 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 90% — much wider than sector
Order Book Depth
≥100 contractsDepth 248.4 contracts (bid:117.6 ask:130.8) — adequate
Execution Quality
<1.0%Avg slippage 7.36% — poor
Timing
Is now a good time?
8.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +8.9% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 98% — seller opportunity
Event Detection
≥10pts kinkIV kink -1.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 112.73 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 18d (low risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +16% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 72 (ITM 20% + inst 42%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.2
bullishIV expensive, bullish flow
Long Puts4.3
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.1
bullishIV rich premium, bullish flow
Covered Call5.3
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.