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 38 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 31% leaning bullish and 68% bearish. Among these notable options, 25 are puts, totaling $1,824,684, and 13 are calls, amounting to $776,479.
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 $290.0 and $500.0 for MongoDB, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of MongoDB stands at 244.13, with a total volume reaching 2,468.00. 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 $290.0 to $500.0, throughout the last 30 days.
MongoDB 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MDB | PUT | TRADE | BULLISH | 04/12/24 | $300.00 | $272.5K | 5 | 0 |
| MDB | CALL | TRADE | BEARISH | 04/12/24 | $325.00 | $252.5K | 0 | 50 |
| MDB | PUT | TRADE | BEARISH | 01/17/25 | $500.00 | $180.9K | 83 | 12 |
| MDB | PUT | TRADE | BEARISH | 05/17/24 | $380.00 | $123.0K | 155 | 36 |
| MDB | PUT | TRADE | BULLISH | 05/17/24 | $380.00 | $104.3K | 155 | 161 |
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.
In light of the recent options history for MongoDB, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is MongoDB Standing Right Now?
- With a volume of 1,434,329, the price of MDB is down -0.97% at $379.7.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 80 days.
Professional Analyst Ratings for MongoDB
In the last month, 5 experts released ratings on this stock with an average target price of $460.6.
- An analyst from B of A Securities persists with their Buy rating on MongoDB, maintaining a target price of $500.
- An analyst from Scotiabank persists with their Sector Perform rating on MongoDB, maintaining a target price of $385.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for MongoDB, targeting a price of $435.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $440.
- An analyst from Keybanc has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $543.
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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