Check Out What Whales Are Doing With MDB

Author: Benzinga Insights | April 01, 2024 04:45pm

Financial giants have made a conspicuous bullish move on MongoDB. Our analysis of options history for MongoDB (NASDAQ:MDB) revealed 32 unusual trades.

Delving into the details, we found 56% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 20 were puts, with a value of $1,067,663, and 12 were calls, valued at $601,590.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $337.5 to $460.0 for MongoDB during the past quarter.

Volume & Open Interest Trends

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 $337.5 to $460.0 in the last 30 days.

MongoDB Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MDB	PUT	SWEEP	BULLISH	09/20/24	$43.2	$43.15	$43.2	$350.00	$142.5K	179	47
MDB	CALL	SWEEP	BULLISH	04/19/24	$12.3	$11.95	$12.3	$360.00	$123.0K	210	26
MDB	PUT	SWEEP	BULLISH	12/20/24	$84.4	$83.95	$83.95	$400.00	$109.1K	98	16
MDB	CALL	TRADE	BULLISH	06/21/24	$10.25	$9.9	$10.13	$450.00	$101.3K	268	3
MDB	PUT	TRADE	BEARISH	04/05/24	$3.4	$3.3	$3.4	$350.00	$84.6K	215	570

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.

Current Position of MongoDB

• Currently trading with a volume of 916,682, the MDB's price is down by -0.71%, now at $356.09.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 59 days.

Professional Analyst Ratings for MongoDB

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $410.4.

• Consistent in their evaluation, an analyst from Guggenheim keeps a Sell rating on MongoDB with a target price of $272.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $475.
• In a positive move, an analyst from DA Davidson has upgraded their rating to Buy and adjusted the price target to $430.
• An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $440.
• An analyst from Stifel has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $435.

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.

Posted In: MDB