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 positions 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.
Today, Benzinga's options scanner spotted 18 options trades for MercadoLibre.
This isn't normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $78,000, and 17, calls, for a total amount of $1,059,511.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1000.0 to $2000.0 for MercadoLibre during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for MercadoLibre'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 MercadoLibre's whale activity within a strike price range from $1000.0 to $2000.0 in the last 30 days.
MercadoLibre Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MELI | CALL | TRADE | NEUTRAL | 01/17/25 | $1600.00 | $151.0K | 147 | 10 |
| MELI | CALL | SWEEP | BEARISH | 01/17/25 | $1600.00 | $151.0K | 147 | 5 |
| MELI | CALL | SWEEP | BULLISH | 01/19/24 | $1500.00 | $120.0K | 389 | 11 |
| MELI | CALL | SWEEP | NEUTRAL | 02/02/24 | $1590.00 | $89.2K | 21 | 0 |
| MELI | CALL | SWEEP | BULLISH | 05/17/24 | $1760.00 | $81.9K | 5 | 11 |
About MercadoLibre
MercadoLibre runs the largest e-commerce marketplace in Latin America, connecting a network of more than 148 million active users and 1 million active sellers as of the end of 2022 across an 18-country footprint. The company also operates a host of complementary businesses, 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.
Current Position of MercadoLibre
- With a trading volume of 128,557, the price of MELI is up by 0.54%, reaching $1600.3.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 41 days from now.
What Analysts Are Saying About MercadoLibre
In the last month, 2 experts released ratings on this stock with an average target price of $1850.0.
- An analyst from Citigroup persists with their Buy rating on MercadoLibre, maintaining a target price of $1900.
- An analyst from Wedbush persists with their Outperform rating on MercadoLibre, maintaining a target price of $1800.
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 MercadoLibre, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
