Deep-pocketed investors have adopted a bullish 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 15 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 8 are puts, totaling $507,841, and 7 are calls, amounting to $311,435.
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Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $70.0 to $440.0 for MongoDB over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for MongoDB's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across MongoDB's significant trades, within a strike price range of $70.0 to $440.0, over the past month.
MongoDB Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MDB | PUT | TRADE | BEARISH | 11/15/24 | $16.9 | $14.3 | $16.8 | $260.00 | $168.0K | 2 | 100 |
| MDB | PUT | SWEEP | BEARISH | 04/19/24 | $4.65 | $4.45 | $4.65 | $340.00 | $116.2K | 882 | 26 |
| MDB | PUT | TRADE | BULLISH | 06/21/24 | $97.95 | $95.15 | $95.15 | $440.00 | $76.1K | 902 | 10 |
| MDB | CALL | TRADE | BULLISH | 04/26/24 | $7.5 | $6.9 | $7.5 | $365.00 | $59.2K | 45 | 71 |
| MDB | CALL | TRADE | BULLISH | 01/17/25 | $291.7 | $284.3 | $289.86 | $70.00 | $57.9K | 27 | 5 |
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.
After a thorough review of the options trading surrounding MongoDB, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is MongoDB Standing Right Now?
- With a trading volume of 584,186, the price of MDB is up by 0.49%, reaching $353.8.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 45 days from now.
Professional Analyst Ratings for MongoDB
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $420.0.
- An analyst from Redburn Atlantic downgraded its action to Sell with a price target of $295.
- An analyst from Needham downgraded its action to Buy with a price target of $465.
- An analyst from Tigress Financial has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $500.
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 MongoDB with Benzinga Pro for real-time alerts.
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