Aug. 29 at 12:49 AM
$ESTC just pulled off a 19% breakout after smashing earnings and raising guidance
Instead of seeing profit-taking, we're getting heavy action in deep ITM LEAP calls
About
$5.5M in ask-side sweeps on those Jan 2027
$60 calls today with the stock sitting near
$101
This shows some serious demand for upside exposure
Feels like the risk/reward is leaning toward more upside
Fading this move might not be the best play with these signals