27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Someone with a lot of money to spend has taken a bullish stance on MongoDB (NASDAQ:MDB).
And retail traders should know.
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We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with MDB, it often means somebody knows something is about to happen.
So how do we know what this whale just did?
Today, Benzinga's options scanner spotted 24 uncommon options trades for MongoDB.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 15 are puts, for a total amount of $2,102,045, and 9 are calls, for a total amount of $392,302.
What's The Price Target?
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Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $65.0 to $600.0 for MongoDB over the last 3 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 $65.0 to $600.0 in the last 30 days.
MongoDB Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MDB | PUT | TRADE | NEUTRAL | 01/20/23 | $300.00 | $283.5K | 554 | 100 |
| MDB | PUT | TRADE | BULLISH | 01/19/24 | $300.00 | $250.0K | 212 | 51 |
| MDB | PUT | TRADE | BULLISH | 01/19/24 | $300.00 | $250.0K | 212 | 50 |
| MDB | PUT | TRADE | BULLISH | 01/19/24 | $300.00 | $245.0K | 212 | 101 |
| MDB | PUT | TRADE | NEUTRAL | 01/19/24 | $300.00 | $241.7K | 212 | 200 |
Where Is MongoDB Standing Right Now?
- With a volume of 741,099, the price of MDB is up 2.9% at $442.69.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 63 days.
What The Experts Say On MongoDB:
- UBS upgraded its action to Buy with a price target of $450
- Barclays has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $410.
- Morgan Stanley has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $475.
- Credit Suisse has decided to maintain their Outperform rating on MongoDB, which currently sits at a price target of $650.
- Needham has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $362.
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.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.