Investors with a lot of money to spend have taken a bullish stance on MercadoLibre MELI.
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 MELI, 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 11 uncommon options trades for MercadoLibre.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 45%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $339,915, and 5 are calls, for a total amount of $268,232.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1600.0 to $2500.0 for MercadoLibre over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of MercadoLibre stands at 60.88, with a total volume reaching 71.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in MercadoLibre, situated within the strike price corridor from $1600.0 to $2500.0, throughout the last 30 days.
MercadoLibre 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MELI | CALL | TRADE | BEARISH | 12/20/24 | $97.5 | $80.0 | $84.88 | $1860.00 | $84.8K | 98 | 10 |
| MELI | PUT | TRADE | BULLISH | 01/15/27 | $704.0 | $686.0 | $693.2 | $2500.00 | $69.3K | 1 | 1 |
| MELI | PUT | SWEEP | BULLISH | 12/06/24 | $37.5 | $34.3 | $34.3 | $1885.00 | $65.1K | 0 | 19 |
| MELI | PUT | SWEEP | BEARISH | 12/20/24 | $28.3 | $25.8 | $27.91 | $1810.00 | $54.6K | 1 | 20 |
| MELI | CALL | TRADE | BULLISH | 12/20/24 | $66.2 | $62.3 | $66.2 | $1905.00 | $52.9K | 2 | 10 |
About MercadoLibre
MercadoLibre runs the largest e-commerce marketplace in Latin America, with more than 218 million active users and 1 million active sellers across 18 countries stitching into its commerce network or fintech solutions as of the end of 2023. The company operates a host of complementary businesses to its core online shop, 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.
In light of the recent options history for MercadoLibre, it's now appropriate to focus on the company itself. We aim to explore its current performance.
MercadoLibre's Current Market Status
- Currently trading with a volume of 98,928, the MELI's price is down by -0.66%, now at $1903.39.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 93 days.
What The Experts Say On MercadoLibre
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $2260.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on MercadoLibre with a target price of $2200. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for MercadoLibre, targeting a price of $2450. * An analyst from Cantor Fitzgerald persists with their Overweight rating on MercadoLibre, maintaining a target price of $2300. * Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on MercadoLibre with a target price of $2200. * An analyst from JP Morgan has decided to maintain their Neutral rating on MercadoLibre, which currently sits at a price target of $2150.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest MercadoLibre options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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