Unpacking the Latest Options Trading Trends in MercadoLibre
Portfolio Pulse from Benzinga Insights
Recent options trading trends indicate a bearish stance among big-money investors on MercadoLibre (NASDAQ:MELI). Benzinga's options scanner detected 19 trades, with a split sentiment of 26% bullish and 42% bearish. The trades suggest a price range of $1490.0 to $2300.0 for MELI. Analysts have mixed ratings, with a consensus target price of $1925.0.
May 21, 2024 | 6:16 pm
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Recent options trading trends indicate a bearish stance among big-money investors on MercadoLibre. Benzinga's options scanner detected 19 trades, with a split sentiment of 26% bullish and 42% bearish. The trades suggest a price range of $1490.0 to $2300.0 for MELI. Analysts have mixed ratings, with a consensus target price of $1925.0.
The detection of 19 options trades with a predominantly bearish sentiment (42%) suggests that big-money investors are expecting a decline in MercadoLibre's stock price. This bearish outlook is further supported by the mixed analyst ratings and the current RSI readings indicating the stock may be overbought.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100