Whales with a lot of money to spend have taken a noticeably bearish stance on MercadoLibre.
Looking at options history for MercadoLibre MELI we detected 54 trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $1,188,794 and 42, calls, for a total amount of $2,638,373.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $1200.0 and $2000.0 for MercadoLibre, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $1200.0 to $2000.0 in the last 30 days.
MercadoLibre Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MELI | PUT | SWEEP | BULLISH | 03/15/24 | $1800.00 | $590.0K | 20 | 41 |
| MELI | CALL | TRADE | BEARISH | 01/17/25 | $1900.00 | $236.5K | 21 | 83 |
| MELI | CALL | TRADE | BEARISH | 01/17/25 | $1900.00 | $236.5K | 21 | 72 |
| MELI | CALL | TRADE | NEUTRAL | 01/17/25 | $1900.00 | $234.3K | 21 | 94 |
| MELI | PUT | TRADE | BULLISH | 03/15/24 | $1640.00 | $135.3K | 54 | 25 |
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.
Having examined the options trading patterns of MercadoLibre, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is MercadoLibre Standing Right Now?
- Currently trading with a volume of 406,262, the MELI's price is down by -4.06%, now at $1702.62.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 16 days.
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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