Deep-pocketed investors have adopted a bullish approach towards Pinterest PINS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PINS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Pinterest. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 75% leaning bullish and 25% bearish. Among these notable options, 4 are puts, totaling $570,311, and 4 are calls, amounting to $602,096.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $27.5 to $32.0 for Pinterest over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $27.5 to $32.0 in the last 30 days.
Pinterest Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | CALL | TRADE | BEARISH | 10/04/24 | $0.99 | $0.93 | $0.94 | $30.00 | $470.0K | 171 | 5.0K |
| PINS | PUT | TRADE | BULLISH | 01/17/25 | $2.29 | $2.26 | $2.27 | $27.50 | $454.0K | 3.6K | 2.0K |
| PINS | CALL | SWEEP | BEARISH | 01/16/26 | $6.6 | $6.5 | $6.53 | $30.00 | $54.7K | 435 | 229 |
| PINS | PUT | SWEEP | BULLISH | 10/18/24 | $1.93 | $1.9 | $1.91 | $30.00 | $47.9K | 1.0K | 310 |
| PINS | CALL | TRADE | BULLISH | 01/16/26 | $5.9 | $5.65 | $5.83 | $32.00 | $46.6K | 778 | 80 |
About Pinterest
Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from cooking recipes to travel destinations. Founded in 2010, the platform consists of a largely female audience, which accounts for roughly two thirds of its nearly 500 million monthly active users. The company generates revenue by selling digital ads and is now rolling out more in-platform e-commerce features. About 20% of users reside in the US and Canada, but the region accounted for about 80% of revenue in 2023.
Having examined the options trading patterns of Pinterest, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Pinterest
- With a trading volume of 3,271,123, the price of PINS is down by -0.63%, reaching $29.23.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 48 days from now.
Expert Opinions on Pinterest
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.0.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $41.
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 Pinterest, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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