Pinterest's Options Frenzy: What You Need to Know

High-rolling investors have positioned themselves bullish on Pinterest PINS, 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 PINS often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 17 options trades for Pinterest. This is not a typical pattern.

The sentiment among these major traders is split, with 64% bullish and 35% bearish. Among all the options we identified, there was one put, amounting to $89,960, and 16 calls, totaling $1,676,310.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $40.0 for Pinterest during the past quarter.

Volume & Open Interest Trends

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 $15.0 to $40.0 in the last 30 days.

Pinterest Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

After a thorough review of the options trading surrounding Pinterest, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Pinterest's Current Market Status

• With a volume of 5,139,662, the price of PINS is up 2.27% at $28.88.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 80 days.

Expert Opinions on Pinterest

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $37.2.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Pinterest, targeting a price of $34. * An analyst from JP Morgan persists with their Neutral rating on Pinterest, maintaining a target price of $35. * Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Pinterest, targeting a price of $38. * An analyst from Roth MKM has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $33. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Pinterest, targeting a price of $46.

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.