I have a project I haven't worked on for kinda 2 months. I have these huge point clouds (Millions of points):

I need to create a shapefile with the boundary of this point cloud. When I was working with this 2 months ago I could do this somehow:  

I'm pretty sure I was using the Minimum Bounding Geometry with the the convex hull option. But when I try to recreate it I get the following result:  

I've been trying to figure out what did I do differently, but no luck yet. Please help (I have ArcGIS 10.2 with advanced license)

I have huge point clouds (Millions of points): 

I need to create a shapefile with the boundary of this point cloud. When I was working with this 2 months ago I could do this somehow: 

I'm pretty sure I was using the Minimum Bounding Geometry with the convex hull option. But when I try to recreate it I get the following result: 

I've been trying to figure out what did I do differently, but no luck yet.

I have ArcGIS 10.2 with advanced license.