Deep-pocketed investors have adopted a bearish 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 40 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 65% bearish. Among these notable options, 17 are puts, totaling $906,523, and 23 are calls, amounting to $866,050.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $185.0 to $700.0 for MongoDB over the recent three months.
Volume & Open Interest Development
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 $185.0 to $700.0 in the last 30 days.
MongoDB 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MDB | PUT | SWEEP | BEARISH | 02/23/24 | $430.00 | $109.4K | 219 | 308 |
| MDB | CALL | SWEEP | BULLISH | 03/08/24 | $495.00 | $86.9K | 109 | 100 |
| MDB | CALL | SWEEP | BULLISH | 12/20/24 | $700.00 | $84.6K | 113 | 33 |
| MDB | PUT | TRADE | BEARISH | 03/08/24 | $450.00 | $74.0K | 58 | 35 |
| MDB | PUT | SWEEP | BULLISH | 02/23/24 | $430.00 | $69.6K | 219 | 24 |
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.
Where Is MongoDB Standing Right Now?
- Currently trading with a volume of 550,425, the MDB's price is down by -2.88%, now at $432.01.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 14 days.
What Analysts Are Saying About MongoDB
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $482.6666666666667.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on MongoDB with a target price of $500.
- Reflecting concerns, an analyst from DA Davidson lowers its rating to Neutral with a new price target of $405.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for MongoDB, targeting a price of $543.
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 MongoDB 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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