Investors with a lot of money to spend have taken a bullish stance on MongoDB MDB.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MDB, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 12 uncommon options trades for MongoDB.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 16%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $256,230, and 6 are calls, for a total amount of $513,306.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $220.0 to $370.0 for MongoDB over the last 3 months.
Analyzing Volume & Open Interest
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 $220.0 to $370.0 over the preceding 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 | 12/20/24 | $27.85 | $27.45 | $27.85 | $310.00 | $331.4K | 468 | 138 |
| MDB | PUT | TRADE | BEARISH | 01/17/25 | $8.0 | $7.8 | $8.0 | $220.00 | $80.0K | 679 | 100 |
| MDB | PUT | TRADE | NEUTRAL | 01/16/26 | $72.7 | $71.15 | $71.78 | $310.00 | $50.2K | 120 | 7 |
| MDB | CALL | TRADE | BULLISH | 02/21/25 | $46.0 | $44.4 | $46.0 | $290.00 | $46.0K | 19 | 10 |
| MDB | CALL | SWEEP | BULLISH | 09/13/24 | $8.65 | $6.7 | $8.65 | $282.50 | $41.5K | 2 | 0 |
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.
After a thorough review of the options trading surrounding MongoDB, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
MongoDB's Current Market Status
- With a volume of 554,128, the price of MDB is up 3.92% at $294.29.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 90 days.
What Analysts Are Saying About MongoDB
In the last month, 5 experts released ratings on this stock with an average target price of $317.0.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on MongoDB with a target price of $275.
- An analyst from DA Davidson has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $330.
- An analyst from Truist Securities has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $320.
- Maintaining their stance, an analyst from Needham continues to hold a Buy rating for MongoDB, targeting a price of $335.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for MongoDB, targeting a price of $325.
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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