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Decoding MongoDB's Options Activity: What's the Big Picture?

Author: Benzinga Insights | July 08, 2024 10:30am

Deep-pocketed investors have adopted a bearish approach towards MongoDB (NASDAQ: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 10 extraordinary options activities for MongoDB. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 50% bearish. Among these notable options, 2 are puts, totaling $73,667, and 8 are calls, amounting to $398,468.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $160.0 to $500.0 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 123.0 with a total volume of 202.00.

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 $160.0 to $500.0 over the last 30 days.

MongoDB 30-Day Option Volume & Interest Snapshot

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
MDB CALL SWEEP BEARISH 12/19/25 $133.7 $126.1 $130.1 $160.00 $143.2K 0 0
MDB CALL SWEEP BULLISH 07/12/24 $2.6 $2.28 $2.59 $270.00 $51.9K 299 10
MDB CALL TRADE BEARISH 12/19/25 $116.7 $114.55 $114.55 $185.00 $45.8K 1 0
MDB CALL TRADE BULLISH 12/19/25 $114.2 $111.15 $114.2 $185.00 $45.6K 1 0
MDB PUT TRADE BULLISH 11/15/24 $63.45 $62.95 $62.95 $310.00 $37.7K 39 0

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

  • With a volume of 200,667, the price of MDB is down -1.61% at $262.44.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 52 days.

Expert Opinions on MongoDB

In the last month, 1 experts released ratings on this stock with an average target price of $290.0.

  • Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $290.

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

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