A whale with a lot of money to spend has taken a noticeably bearish stance on MercadoLibre.
Looking at options history for MercadoLibre MELI we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $352,695 and 6, calls, for a total amount of $195,946.
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 $1020.0 to $1600.0 for MercadoLibre over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for MercadoLibre options trades today is 53.57 with a total volume of 53.00.
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 $1020.0 to $1600.0 over the last 30 days.
MercadoLibre 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 |
|---|---|---|---|---|---|---|---|---|
| MELI | PUT | SWEEP | BEARISH | 01/19/24 | $1360.00 | $52.5K | 11 | 9 |
| MELI | PUT | TRADE | BEARISH | 10/20/23 | $1300.00 | $47.3K | 40 | 23 |
| MELI | PUT | SWEEP | BEARISH | 01/19/24 | $1380.00 | $44.2K | 36 | 4 |
| MELI | CALL | TRADE | BULLISH | 01/16/26 | $1390.00 | $44.1K | 0 | 1 |
| MELI | CALL | TRADE | NEUTRAL | 01/19/24 | $1020.00 | $41.2K | 24 | 1 |
Where Is MercadoLibre Standing Right Now?
- With a volume of 175,652, the price of MELI is down -0.61% at $1388.12.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 45 days.
What The Experts Say On MercadoLibre:
- New Street Research upgraded its action to Buy with a price target of $1650
- Wedbush downgraded its action to Outperform with a price target of $1500
- UBS has decided to maintain their Buy rating on MercadoLibre, which currently sits at a price target of $1700.
- Susquehanna has decided to maintain their Positive rating on MercadoLibre, which currently sits at a price target of $1625.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
