Pinterest Earnings: Here's A Look At Crucial Levels For The Stock This Week

As Pinterest Inc. PINS is scheduled to report its quarterly earnings on Monday, investors and traders might be wondering what direction the stock could take and what could be the potential move.

What Happened: The stock is up over 20% since the beginning of 2023 and has gained over 4% last week. The company laid off about 150 employees to contain costs amid macro headwinds. The job cuts came from teams across the San Francisco-based digital search company with the move affecting less than 5% of Pinterest’s total workers.

Here’s a look at the trading range that the options market is pricing in for the stock this week:

Resistance: Options expiring on Feb. 10 indicate a maximum open interest build-up on the Call Side at the strike price of $30 amongst out-of-the-money options indicating the market is temporarily considering this level as a short-term resistance. 

Support: On the downside, the maximum open interest build-up can be seen at the strike price of $25 amongst out-of-the-money Put options indicating the market is temporarily considering this level as short-term support.

However, volumes on both legs are yet to pick up and current data with low numbers only provides an indicative stance about the week’s trading range expected by the market. It is also noteworthy that a sudden movement on either side can lead to traders closing existing positions and entering new ones, leading to a shift in the maximum open interest accumulation levels.