Deep-pocketed investors have adopted a bearish approach towards MercadoLibre MELI, 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 MELI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for MercadoLibre. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 53% bearish. Among these notable options, 6 are puts, totaling $213,350, and 9 are calls, amounting to $503,206.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1500.0 to $2200.0 for MercadoLibre over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for MercadoLibre'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 MercadoLibre's whale activity within a strike price range from $1500.0 to $2200.0 in the last 30 days.
MercadoLibre Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MELI | CALL | SWEEP | BEARISH | 03/15/24 | $1900.00 | $138.0K | 101 | 26 |
| MELI | CALL | TRADE | BULLISH | 01/17/25 | $2200.00 | $71.5K | 12 | 5 |
| MELI | CALL | TRADE | BULLISH | 02/02/24 | $1625.00 | $64.4K | 6 | 0 |
| MELI | CALL | TRADE | NEUTRAL | 02/02/24 | $1620.00 | $59.5K | 6 | 4 |
| MELI | CALL | TRADE | BULLISH | 03/15/24 | $1780.00 | $53.4K | 33 | 1 |
About MercadoLibre
MercadoLibre runs the largest e-commerce marketplace in Latin America, connecting a network of more than 148 million active users and 1 million active sellers as of the end of 2022 across an 18-country footprint. The company also operates a host of complementary businesses, with shipping solutions (Mercado Envios), a payment and financing operation (Mercado Pago and Mercado Credito), advertisements (Mercado Clics), classifieds, and a turnkey e-commerce solution (Mercado Shops) rounding out its arsenal. MercadoLibre generates revenue from final value fees, advertising royalties, payment processing, insertion fees, subscription fees, and interest income from consumer and small-business lending.
Following our analysis of the options activities associated with MercadoLibre, we pivot to a closer look at the company's own performance.
MercadoLibre's Current Market Status
- Trading volume stands at 159,114, with MELI's price up by 0.11%, positioned at $1740.69.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 27 days.
Expert Opinions on MercadoLibre
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $1900.0.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on MercadoLibre with a target price of $1900.
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 MercadoLibre with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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