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 18 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 7 are puts, totaling $315,700, and 11 are calls, amounting to $902,920.
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 $200.0 and $350.0 for MongoDB, spanning the last three months.
Analyzing Volume & Open Interest
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 MongoDB'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 MongoDB's whale trades within a strike price range from $200.0 to $350.0 in the last 30 days.
MongoDB Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MDB | CALL | SWEEP | BULLISH | 08/16/24 | $18.2 | $17.65 | $18.2 | $250.00 | $345.8K | 786 | 198 |
| MDB | PUT | SWEEP | BEARISH | 12/19/25 | $31.0 | $30.4 | $31.0 | $200.00 | $124.0K | 425 | 74 |
| MDB | CALL | TRADE | BULLISH | 08/16/24 | $18.95 | $17.8 | $18.95 | $250.00 | $108.0K | 786 | 312 |
| MDB | CALL | SWEEP | BEARISH | 08/16/24 | $18.6 | $18.3 | $18.3 | $250.00 | $95.1K | 786 | 201 |
| MDB | CALL | SWEEP | BULLISH | 01/17/25 | $20.35 | $20.3 | $20.35 | $330.00 | $85.4K | 190 | 42 |
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.
Present Market Standing of MongoDB
- Currently trading with a volume of 734,895, the MDB's price is up by 1.22%, now at $255.59.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 37 days.
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 $350.0.
- Consistent in their evaluation, an analyst from Tigress Financial keeps a Buy rating on MongoDB with a target price of $400.
- An analyst from Piper Sandler persists with their Overweight rating on MongoDB, maintaining a target price of $300.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for MongoDB, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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