A Closer Look at Monday.Com's Options Market Dynamics
High-rolling investors have positioned themselves bullish on Monday.Com MNDY, and it’s important for retail traders to take note.
This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MNDY often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 10 options trades for Monday.Com. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $28,350, and 9 calls, totaling $611,070.
What’s The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $350.0 for Monday.Com over the recent three months.
Volume & Open Interest Trends
In today’s trading context, the average open interest for options of Monday.Com stands at 463.89, with a total volume reaching 414.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Monday.Com, situated within the strike price corridor from $230.0 to $350.0, throughout the last 30 days.
Monday.Com 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MNDY | CALL | TRADE | BULLISH | 11/29/24 | $9.0 | $5.1 | $9.0 | $275.00 | $270.0K | 1.3K | 0 |
| MNDY | CALL | TRADE | BEARISH | 01/17/25 | $36.9 | $34.6 | $35.3 | $260.00 | $70.6K | 589 | 23 |
| MNDY | CALL | TRADE | BULLISH | 01/17/25 | $12.7 | $12.0 | $12.5 | $300.00 | $58.7K | 360 | 29 |
| MNDY | CALL | TRADE | NEUTRAL | 01/17/25 | $60.7 | $57.4 | $59.0 | $230.00 | $47.2K | 154 | 8 |
| MNDY | CALL | TRADE | BULLISH | 01/17/25 | $41.2 | $39.4 | $41.2 | $250.00 | $41.2K | 1.3K | 10 |
About Monday.Com
Monday.com is a provider of work management software delivered via a cloud-based software-as-a-service, or SaaS model. The firm’s solutions offer flexible and highly customizable tools to digitize business processes across countless use cases. Monday’s offering supports workflow management across departments, real-time visibility and accountability, and automation capabilities. Monday also offers prepackaged CRM and DevOps management solutions, in addition to standalone survey and digital whiteboard tools. As of 2023, Monday served over 225,000 customers in more than 200 countries.
Following our analysis of the options activities associated with Monday.Com, we pivot to a closer look at the company’s own performance.
Current Position of Monday.Com
- With a volume of 607,390, the price of MNDY is up 0.82% at $278.52.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 80 days.
Expert Opinions on Monday.Com
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $320.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Monday.Com, targeting a price of $330.
* Reflecting concerns, an analyst from DA Davidson lowers its rating to Neutral with a new price target of $300.
* An analyst from Needham persists with their Buy rating on Monday.Com, maintaining a target price of $350.
* An analyst from Piper Sandler has decided to maintain their Overweight rating on Monday.Com, which currently sits at a price target of $350.
* Maintaining their stance, an analyst from Baird continues to hold a Neutral rating for Monday.Com, targeting a price of $270.
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 Monday.Com, Benzinga Pro gives you real-time options trades alerts.
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Leave a Reply