Decoding MongoDB’s Options Activity: What’s the Big Picture? – MongoDB (NASDAQ:MDB)

Whales Take Bearish Stance on MongoDB

Whales, or investors with significant financial resources, have recently shown a bearish stance on MongoDB. This is evident from the options history for MongoDB (MDB), where 41% of the investors opened trades with bullish expectations, while 58% took a bearish approach.

In total, 17 trades were detected, consisting of 2 puts amounting to $56,960 and 15 calls totaling $950,401. These trades indicate that the big players have been eyeing a price range from $260.0 to $500.0 for MongoDB in the past quarter.

Analyzing the volume and open interest of these contracts provides valuable insights into the stock. It helps track the liquidity and interest for MongoDB’s options at different strike prices. The data reveals the evolution of the volume and open interest of calls and puts for MongoDB’s whale activity within the $260.0 to $500.0 strike price range over the last 30 days.

Looking at MongoDB’s option volume and open interest over the last 30 days, several significant trades stand out. For example, there were multiple bullish trades with a strike price of $410.00 and expiring on 06/21/24, totaling over $100,000 each. Additionally, there was a bearish trade with the same strike price and expiration date, amounting to $91.7K.

Founded in 2007, MongoDB is a document-oriented database with a large customer base. It provides licenses and subscriptions for its NoSQL database, which is compatible with all major programming languages and can be deployed for various use cases.

Considering MongoDB’s own performance, the trading volume stands at 577,702, with the stock price at $406.46, down by -0.3%. RSI indicators suggest that the stock may be approaching overbought levels. Furthermore, an earnings announcement is expected in 8 days.

Professional analysts have also weighed in on MongoDB, providing their ratings and price targets. Three analysts have given their take on the stock in the last 30 days, with an average price target of $452.33. Capital One upgraded their rating to Overweight with a price target of $427, while Wells Fargo lowered its rating to Overweight and set a new price target of $500. Truist Securities revised its rating downward to Buy, with a price target of $430.

It’s important to note that options trading comes with higher risks and potential rewards. Traders must stay informed and adapt their strategies based on market movements and indicators. Real-time alerts from Benzinga Pro can help traders stay updated on the latest MongoDB options trades.

Overall, the bearish stance of whales on MongoDB, along with the analysis of options activity and professional analyst ratings, provides valuable insights for investors considering their positions in the company.