Spotlight on MongoDB: Analyzing the Surge in Options Activity

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 19 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 57% leaning bullish and 42% bearish. Among these notable options, 9 are puts, totaling $924,485, and 10 are calls, amounting to $1,093,110.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $380.0 to $640.0 for MongoDB over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for MongoDB options trades today is 180.53 with a total volume of 473.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for MongoDB's big money trades within a strike price range of $380.0 to $640.0 over the last 30 days.

MongoDB Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MDB CALL SWEEP BULLISH 06/21/24 $410.00 $284.0K 752 153
MDB CALL SWEEP BULLISH 06/21/24 $410.00 $281.9K 752 101
MDB CALL SWEEP BULLISH 06/21/24 $410.00 $259.3K 752 42
MDB PUT SWEEP BEARISH 01/19/24 $395.00 $197.5K 17 1
MDB PUT SWEEP BEARISH 06/21/24 $380.00 $132.6K 225 33

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.

Following our analysis of the options activities associated with MongoDB, we pivot to a closer look at the company's own performance.

Present Market Standing of MongoDB

  • With a trading volume of 418,397, the price of MDB is up by 1.02%, reaching $411.65.
  • Current RSI values indicate that the stock is may be approaching overbought.
  • Next earnings report is scheduled for 71 days from now.

What Analysts Are Saying About MongoDB

In the last month, 5 experts released ratings on this stock with an average target price of $464.6.

  • Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for MongoDB, targeting a price of $420.
  • An analyst from Piper Sandler persists with their Overweight rating on MongoDB, maintaining a target price of $500.
  • Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for MongoDB, targeting a price of $475.
  • Reflecting concerns, an analyst from Stifel lowers its rating to Buy with a new price target of $450.
  • An analyst from Barclays has decided to maintain their Overweight rating on MongoDB, which currently sits at a price target of $478.

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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Posted In: OptionsMarketsBZI-UOA
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