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High-Volume MDB Call Spread Scores 4.8% Gain as Stock Rallies 5.66%
MongoDB (MDB) options saw a significant call spread transaction, catching the attention of options market watchers. On August 18, 2025 at 11:31:10, a trader put on a 1,000-lot call spread (buying 260 calls and selling 300 calls, both expiring September 19, 2025), executed at a VWAP price of 6.44. By 2:50 p.m., the value had already climbed to 6.75—a gain of 0.31 per spread, or 4.8%—as MDB shares rallied $2.85 from $227.76 to $230.61.
Call Spread Trade Details at a Glance
| Metric | Value |
|---|---|
| Expiration | 19-Sep-25 |
| Strike Prices | 260 / 300 (call spread) |
| Number of Contracts | 1,000 |
| Days to Expiration | 32 |
| VWAP Trade Price | 6.44 |
| VWAP Bid/Ask | 5.89 / 6.63 |
| Stock Price at Trade | 227.76 |
| Reference Stock Price at 2:50pm | 230.61 |
| Current Spread Value | 6.75 |
| Gain Per Spread | 0.31 (+4.8%) |
| Total Outlay | $322,000 |
| Potential Max Payout | ~$1,700,000 |
| Break-Even Stock Price | ~$266.44 |
To review this and similar trades in detail, check the multi-leg trade analyzer.
Trade Setup Suggests High Conviction Bullish Bet
The size and structure of this trade provide a clear insight: the buyer committed $322,000 to potentially earn up to $1.7 million—if MDB shares rally above $300 by September 19 expiration. The spread needs the stock to surge about 30% in 32 days for full payout. Notably, the quick 4.8% gain shortly after execution was tied directly to the day’s strong share performance (+5.66%). This points to a directional conviction rather than a simple volatility play.
For those looking to screen more large call spreads or other multi-leg option trades, Market Chameleon’s screener is a useful tool.
Technical Indicators Are Bullish: MDB Rallies and Outperforms in Recent Periods
Technicals reinforce the bullish option activity. MDB stock jumped 5.66% on the day, finishing at $230.61—an advance of 12.35 points. The rally broke above the stock’s expected daily resistance (226.38), showing bullish momentum and an ability to clear key technical barriers. A recent ‘bullish crossover’ in the moving averages strengthens this case:
- Current price is above the 20-day (2.4% higher) and 50-day (6.8% higher) moving averages
- Outperformed the S&P 500 (SPY) over the past 3 months (+21.0% vs. +9.3%) and 2 weeks (+4.4% vs. +3.5%)
- 63.8% above the 52-week low, though still -37.7% from its 52-week high
- Broke below expected daily support of 210.14 earlier in the period, showing a wide price range and high volatility
MDB vs. SPY Performance Table
| Duration | MDB Return | SPY Return | MDB Range |
|---|---|---|---|
| Today | +5.7% | 0.0% | 220.32 – 231.55 |
| 2 Weeks | +4.4% | +3.5% | 198.47 – 242.77 |
| 1 Month | +10.5% | +3.4% | 198.47 – 251.24 |
| 3 Months | +21.1% | +9.3% | 182.43 – 251.24 |
| 6 Months | -20.4% | +6.1% | 140.78 – 298.92 |
| 1 Year | -7.4% | +17.6% | 140.78 – 370.00 |
| YTD | -1.0% | +10.4% | 140.78 – 298.92 |
| 3 Years | -38.7% | +54.8% | 135.15 – 509.62 |
| 5 Years | +15.8% | +100.5% | 135.15 – 590.00 |
The long-term underperformance (-7.4% vs. SPY’s +17.6% for one year) contrasts with its near-term momentum. If MDB’s recent streak continues, that big $1.7 million payday for the call spread trader doesn’t look as far-fetched as it might have a month ago.
Option Skew Indicators Support Bullish Outlook
The options market is echoing technical optimism. MDB’s 30-day implied volatility skew has reached a 79% rank—among the highest readings over the past year. Market Chameleon’s proprietary skew indicator suggests the options market sees more probability of a sharp move higher than lower, adding confidence to the large call spread position. This bullish skew reading shows traders are increasingly willing to pay up for upside exposure versus downside protection.
Key Takeaways: Eyes on MDB for Further Momentum
With a $322,000 bet now up 4.8% in hours, a bullish skew, and a breakout above resistance, MDB’s recent technical and option signals are pointing in the same direction. However, achieving the call spread’s full $1.7 million payout requires a substantial rally by expiration—a reminder of the risk and reward of directional spreads. Investors and traders interested in tracking further unusual option strategies on MDB or other stocks can utilize the multi-leg option trade screener for more insights and opportunity spotting.
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NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.
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