MercadoLibre Unusual Options Activity

High-rolling investors have positioned themselves bullish on MercadoLibre MELI, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MELI often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 13 options trades for MercadoLibre. This is not a typical pattern.

The sentiment among these major traders is split, with 53% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $110,400, and 12 calls, totaling $700,660.

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 $1580.0 to $2200.0 for MercadoLibre over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for MercadoLibre options trades today is 69.25 with a total volume of 258.00.

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 $1580.0 to $2200.0 over the last 30 days.

MercadoLibre 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

In light of the recent options history for MercadoLibre, it's now appropriate to focus on the company itself. We aim to explore its current performance.

MercadoLibre's Current Market Status

• With a trading volume of 62,681, the price of MELI is up by 0.05%, reaching $1898.81.
• 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 MercadoLibre

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $2300.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan has decided to maintain their Neutral rating on MercadoLibre, which currently sits at a price target of $2150. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on MercadoLibre with a target price of $2450.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for MercadoLibre with Benzinga Pro for real-time alerts.