Deep-pocketed investors have adopted a bullish approach towards Monday.Com MNDY, 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 MNDY usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Monday.Com. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 46% bearish. Among these notable options, 10 are puts, totaling $720,771, and 5 are calls, amounting to $261,727.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $185.0 to $280.0 for Monday.Com over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Monday.Com stands at 263.67, with a total volume reaching 3,570.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Monday.Com, situated within the strike price corridor from $185.0 to $280.0, throughout the last 30 days.
Monday.Com Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MNDY | PUT | SWEEP | BEARISH | 06/21/24 | $7.4 | $7.0 | $7.4 | $215.00 | $176.8K | 10 | 641 |
| MNDY | PUT | SWEEP | BEARISH | 06/21/24 | $3.0 | $1.7 | $2.3 | $200.00 | $121.8K | 842 | 523 |
| MNDY | CALL | TRADE | BULLISH | 11/15/24 | $40.8 | $40.1 | $40.8 | $200.00 | $77.5K | 41 | 20 |
| MNDY | PUT | TRADE | BULLISH | 06/07/24 | $26.6 | $24.5 | $24.5 | $240.00 | $73.5K | 614 | 119 |
| MNDY | CALL | TRADE | NEUTRAL | 06/07/24 | $34.4 | $32.7 | $33.7 | $185.00 | $67.4K | 0 | 20 |
About Monday.Com
Monday.com is a provider of work management software delivered via a cloud-based software-as-a-service model. The firm's solutions offer flexible and highly customizable tools to digitize business processes across countless use cases. Monday's offering supports workflow management across departments, real-time visibility and accountability, and automation capabilities. Monday also offers prepackaged CRM and DevOps management solutions, in addition to standalone survey and digital whiteboard tools. As of 2023, Monday served over 225,000 customers in more than 200 countries.
Following our analysis of the options activities associated with Monday.Com, we pivot to a closer look at the company's own performance.
Where Is Monday.Com Standing Right Now?
- With a trading volume of 639,185, the price of MNDY is down by -4.43%, reaching $215.91.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 70 days from now.
Professional Analyst Ratings for Monday.Com
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $252.0.
- An analyst from Canaccord Genuity has decided to maintain their Buy rating on Monday.Com, which currently sits at a price target of $250.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Monday.Com, targeting a price of $250.
- An analyst from Needham persists with their Buy rating on Monday.Com, maintaining a target price of $250.
- Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Monday.Com with a target price of $280.
- An analyst from DA Davidson has decided to maintain their Neutral rating on Monday.Com, which currently sits at a price target of $230.
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 Monday.Com, 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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