MercadoLibre Unusual Options Activity For June 26
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed for MercadoLibre (NASDAQ:MELI) with a bearish stance. Benzinga's options scanner spotted 34 uncommon options trades, with 38% bullish and 61% bearish sentiment. Whales have been targeting a price range of $800 to $1400 for MercadoLibre over the last 3 months. Citigroup maintains a Buy rating with a price target of $1500.
June 26, 2023 | 5:31 pm
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NEGATIVE IMPACT
Bearish options activity has been observed for MercadoLibre (NASDAQ:MELI). Whales have been targeting a price range of $800 to $1400 for the stock. Citigroup maintains a Buy rating with a price target of $1500.
The unusual options activity, with a majority bearish sentiment, indicates that some investors expect the stock price to decline in the short term. However, Citigroup's Buy rating and $1500 price target suggest a positive long-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100