Whales with a lot of money to spend have taken a noticeably bearish stance on Pinterest.
Looking at options history for Pinterest PINS we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $136,795 and 13, calls, for a total amount of $574,427.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $37.0 to $48.0 for Pinterest over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Pinterest's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Pinterest's whale trades within a strike price range from $37.0 to $48.0 in the last 30 days.
Pinterest Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PINS | CALL | SWEEP | BEARISH | 02/09/24 | $42.00 | $106.2K | 1.7K | 2.5K |
| PINS | CALL | SWEEP | BEARISH | 03/15/24 | $39.00 | $83.8K | 710 | 285 |
| PINS | CALL | SWEEP | BEARISH | 02/09/24 | $42.00 | $59.0K | 1.7K | 895 |
| PINS | CALL | SWEEP | BEARISH | 02/09/24 | $42.00 | $58.8K | 1.7K | 2.0K |
| PINS | PUT | SWEEP | BEARISH | 02/16/24 | $41.00 | $39.6K | 390 | 166 |
About Pinterest
Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to. Founded in 2010, the platform consists of a largely female audience, at roughly two thirds of its 450 million monthly active users. The company generates revenue by selling digital ads and is now rolling out more in-platform e-commerce features.
Following our analysis of the options activities associated with Pinterest, we pivot to a closer look at the company's own performance.
Current Position of Pinterest
- Trading volume stands at 5,204,746, with PINS's price up by 3.63%, positioned at $41.11.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 2 days.
What Analysts Are Saying About Pinterest
In the last month, 5 experts released ratings on this stock with an average target price of $42.4.
- An analyst from Roth MKM has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $37.
- An analyst from Keybanc has decided to maintain their Overweight rating on Pinterest, which currently sits at a price target of $48.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Pinterest, targeting a price of $32.
- An analyst from BMO Capital has revised its rating downward to Outperform, adjusting the price target to $45.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Pinterest, targeting a price of $50.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Pinterest options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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