A whale with a lot of money to spend has taken a noticeably bullish stance on MercadoLibre.
Looking at options history for MercadoLibre (NASDAQ:MELI) we detected 36 strange trades.
If we consider the specifics of each trade, it is accurate to state that 63% of the investors opened trades with bullish expectations and 36% with bearish.
From the overall spotted trades, 26 are puts, for a total amount of $3,194,701 and 10, calls, for a total amount of $523,788.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $660.0 to $1200.0 for MercadoLibre over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for MercadoLibre options trades today is 67.55 with a total volume of 774.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for MercadoLibre's big money trades within a strike price range of $660.0 to $1200.0 over the last 30 days.
MercadoLibre Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MELI | PUT | TRADE | BEARISH | 03/17/23 | $960.00 | $1.6M | 6 | 90 |
| MELI | CALL | SWEEP | BEARISH | 01/20/23 | $880.00 | $191.4K | 39 | 38 |
| MELI | PUT | SWEEP | BEARISH | 11/18/22 | $900.00 | $174.0K | 33 | 20 |
| MELI | PUT | SWEEP | BULLISH | 01/20/23 | $840.00 | $144.4K | 36 | 20 |
| MELI | PUT | SWEEP | BEARISH | 10/28/22 | $900.00 | $85.0K | 65 | 20 |
Where Is MercadoLibre Standing Right Now?
- With a volume of 284,519, the price of MELI is down -5.12% at $881.57.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 27 days.
What The Experts Say On MercadoLibre:
- Jefferies has decided to maintain their Hold rating on MercadoLibre, which currently sits at a price target of $970.
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 MercadoLibre, Benzinga Pro gives you real-time options trades alerts.
