Deep-pocketed investors have adopted a bullish approach towards MercadoLibre MELI, 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 MELI usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for MercadoLibre. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 33% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $383,556, and 6 are calls, amounting to $210,678.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1780.0 to $2100.0 for MercadoLibre over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for MercadoLibre options trades today is 46.75 with a total volume of 25.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for MercadoLibre's big money trades within a strike price range of $1780.0 to $2100.0 over the last 30 days.
MercadoLibre 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MELI | PUT | TRADE | BULLISH | 01/16/26 | $320.0 | $302.5 | $302.5 | $2100.00 | $332.7K | 15 | 11 |
| MELI | CALL | TRADE | BULLISH | 09/20/24 | $80.0 | $74.1 | $80.0 | $2015.00 | $40.0K | 32 | 0 |
| MELI | CALL | TRADE | BEARISH | 11/15/24 | $136.0 | $128.0 | $131.0 | $2100.00 | $39.3K | 209 | 5 |
| MELI | CALL | TRADE | BULLISH | 12/20/24 | $377.5 | $373.1 | $377.5 | $1780.00 | $37.7K | 5 | 1 |
| MELI | CALL | TRADE | BEARISH | 10/18/24 | $74.5 | $72.6 | $72.6 | $2100.00 | $36.3K | 77 | 6 |
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.
Having examined the options trading patterns of MercadoLibre, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
MercadoLibre's Current Market Status
- With a trading volume of 34,693, the price of MELI is up by 0.97%, reaching $2094.42.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 42 days from now.
What Analysts Are Saying About MercadoLibre
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $2407.5.
- An analyst from Susquehanna persists with their Positive rating on MercadoLibre, maintaining a target price of $2350.
- An analyst from BTIG persists with their Buy rating on MercadoLibre, maintaining a target price of $2250.
- An analyst from B of A Securities persists with their Buy rating on MercadoLibre, maintaining a target price of $2500.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $2530.
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.
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