Deep-pocketed investors have adopted a bearish 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 8 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 4 are puts, totaling $271,590, and 4 are calls, amounting to $233,305.
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 $440.0 for MongoDB over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of MongoDB stands at 201.86, with a total volume reaching 161.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in MongoDB, situated within the strike price corridor from $380.0 to $440.0, throughout the last 30 days.
MongoDB 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MDB | PUT | TRADE | BEARISH | 04/19/24 | $430.00 | $173.4K | 22 | 1 |
| MDB | CALL | SWEEP | BEARISH | 04/19/24 | $420.00 | $112.7K | 227 | 30 |
| MDB | CALL | TRADE | BEARISH | 04/19/24 | $420.00 | $67.0K | 227 | 51 |
| MDB | PUT | TRADE | BULLISH | 02/02/24 | $440.00 | $46.8K | 0 | 10 |
| MDB | CALL | SWEEP | BEARISH | 02/16/24 | $380.00 | $26.8K | 76 | 19 |
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.
Present Market Standing of MongoDB
- Trading volume stands at 512,303, with MDB's price down by -4.37%, positioned at $391.0.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 64 days.
What Analysts Are Saying About MongoDB
In the last month, 5 experts released ratings on this stock with an average target price of $468.0.
- An analyst from Needham has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $495.
- An analyst from RBC Capital has decided to maintain their Outperform rating on MongoDB, which currently sits at a price target of $475.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on MongoDB with a target price of $500.
- An analyst from Mizuho persists with their Neutral rating on MongoDB, maintaining a target price of $420.
- An analyst from Stifel downgraded its action to Buy with a price target of $450.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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