Deep-pocketed investors have adopted a bullish approach towards MongoDB MDB, 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 MDB usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 6 are puts, totaling $301,484, and 8 are calls, amounting to $307,727.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $420.0 to $480.0 for MongoDB over the recent three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in MongoDB's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to MongoDB's substantial trades, within a strike price spectrum from $420.0 to $480.0 over the preceding 30 days.
MongoDB 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 |
|---|---|---|---|---|---|---|---|---|
| MDB | CALL | SWEEP | BEARISH | 03/15/24 | $460.00 | $94.9K | 467 | 5 |
| MDB | PUT | SWEEP | NEUTRAL | 03/15/24 | $450.00 | $90.2K | 356 | 90 |
| MDB | PUT | TRADE | BULLISH | 03/01/24 | $470.00 | $65.6K | 69 | 4 |
| MDB | CALL | SWEEP | NEUTRAL | 03/15/24 | $420.00 | $57.2K | 134 | 7 |
| MDB | PUT | SWEEP | BULLISH | 03/08/24 | $450.00 | $51.0K | 195 | 16 |
About MongoDB
Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users. MongoDB provides both licenses as well as subscriptions as a service for its NoSQL database. MongoDB's database is compatible with all major programming languages and is capable of being deployed for a variety of use cases.
In light of the recent options history for MongoDB, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is MongoDB Standing Right Now?
- With a trading volume of 250,646, the price of MDB is up by 0.5%, reaching $449.83.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 6 days from now.
What The Experts Say On MongoDB
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $521.5.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for MongoDB, targeting a price of $543.
- An analyst from Truist Securities persists with their Buy rating on MongoDB, maintaining a target price of $500.
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 MongoDB with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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