Financial giants have made a conspicuous bullish move on MongoDB. Our analysis of options history for MongoDB MDB revealed 11 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $149,780, and 8 were calls, valued at $324,134.
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.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of MongoDB stands at 156.22, with a total volume reaching 590.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in MongoDB, situated within the strike price corridor from $200.0 to $350.0, throughout the last 30 days.
MongoDB Option Volume And Open Interest Over 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 | PUT | SWEEP | NEUTRAL | 09/20/24 | $22.8 | $16.8 | $19.82 | $300.00 | $79.2K | 534 | 0 |
| MDB | CALL | TRADE | BEARISH | 10/18/24 | $42.85 | $41.05 | $41.4 | $250.00 | $57.9K | 71 | 15 |
| MDB | CALL | TRADE | BULLISH | 12/19/25 | $49.7 | $48.1 | $49.7 | $350.00 | $49.7K | 67 | 30 |
| MDB | CALL | TRADE | BEARISH | 09/27/24 | $9.85 | $9.5 | $9.5 | $295.00 | $47.5K | 325 | 126 |
| MDB | PUT | SWEEP | BEARISH | 10/18/24 | $13.5 | $13.35 | $13.5 | $280.00 | $40.5K | 133 | 104 |
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
- Currently trading with a volume of 295,059, the MDB's price is up by 1.43%, now at $285.92.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 85 days.
Expert Opinions on MongoDB
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $320.0.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on MongoDB with a target price of $350.
- An analyst from Truist Securities persists with their Buy rating on MongoDB, maintaining a target price of $320.
- Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Perform rating on MongoDB with a target price of $295.
- Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for MongoDB, targeting a price of $275.
- An analyst from Bernstein has decided to maintain their Outperform rating on MongoDB, which currently sits at a price target of $360.
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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