Smart Money Is Betting Big In MDB Options

Author: Benzinga Insights | April 09, 2024 02:45pm

Whales with a lot of money to spend have taken a noticeably bullish stance on MongoDB.

Looking at options history for MongoDB (NASDAQ:MDB) we detected 20 trades.

If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $747,538 and 9, calls, for a total amount of $284,508.

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 $220.0 to $530.0 for MongoDB over the last 3 months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for MongoDB options trades today is 218.8 with a total volume of 1,002.00.

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 $220.0 to $530.0 over the last 30 days.

MongoDB 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MDB	PUT	SWEEP	BEARISH	01/17/25	$82.7	$81.1	$82.7	$400.00	$339.0K	771	51
MDB	PUT	TRADE	BULLISH	06/21/24	$96.0	$95.15	$95.15	$450.00	$114.1K	125	0
MDB	CALL	SWEEP	BEARISH	05/03/24	$1.92	$1.65	$1.65	$435.00	$49.1K	8	411
MDB	PUT	SWEEP	BEARISH	01/17/25	$76.1	$75.9	$76.1	$390.00	$45.6K	336	53
MDB	CALL	SWEEP	BEARISH	01/17/25	$76.5	$76.0	$76.0	$360.00	$45.6K	113	5

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.

Current Position of MongoDB

• With a volume of 575,551, the price of MDB is up 0.06% at $363.52.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 51 days.

Professional Analyst Ratings for MongoDB

5 market experts have recently issued ratings for this stock, with a consensus target price of $437.2.

• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $465.
• Reflecting concerns, an analyst from Redburn Atlantic lowers its rating to Sell with a new price target of $295.
• An analyst from Bernstein persists with their Outperform rating on MongoDB, maintaining a target price of $491.
• In a cautious move, an analyst from Stifel downgraded its rating to Buy, setting a price target of $435.
• An analyst from Tigress Financial has decided to maintain their Buy rating on MongoDB, which currently sits at a price target of $500.

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.

Posted In: MDB