This Is What Whales Are Betting On MongoDB

Someone with a lot of money to spend has taken a bearish stance on MongoDB MDB.

And retail traders should know.

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.

Today, Benzinga's options scanner spotted 11 options trades for MongoDB.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the options we uncovered, 10 are puts, for a total amount of $828,695, and there was 1 call, for a total amount of $70,782.

What's The Price Target?

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 $250.0 for MongoDB over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $185.0 to $250.0 in the last 30 days.

MongoDB Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is MongoDB Standing Right Now?

• With a volume of 450,375, the price of MDB is down -1.03% at $216.3.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 70 days.

What The Experts Say On MongoDB:

• Barclays has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $257.
• Needham has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $250.
• Citigroup has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $290.
• Mizuho has decided to maintain their Neutral rating on MongoDB, which currently sits at a price target of $180.
• JMP Securities has decided to maintain their Market Outperform rating on MongoDB, which currently sits at a price target of $245.

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 MongoDB, Benzinga Pro gives you real-time options trades alerts.