Whales with a lot of money to spend have taken a noticeably bullish stance on Pinterest.
Looking at options history for Pinterest PINS we detected 12 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $352,800 and 10, calls, for a total amount of $537,828.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $18.0 and $40.0 for Pinterest, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Pinterest options trades today is 2227.0 with a total volume of 8,932.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Pinterest's big money trades within a strike price range of $18.0 to $40.0 over the last 30 days.
Pinterest Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PINS | PUT | TRADE | NEUTRAL | 06/21/24 | $30.00 | $252.0K | 1.7K | 2.0K |
| PINS | PUT | TRADE | BEARISH | 06/21/24 | $30.00 | $100.8K | 1.7K | 2.8K |
| PINS | CALL | SWEEP | BULLISH | 06/21/24 | $39.00 | $98.4K | 1.3K | 0 |
| PINS | CALL | SWEEP | NEUTRAL | 02/16/24 | $18.00 | $67.3K | 79 | 38 |
| PINS | CALL | SWEEP | BULLISH | 06/21/24 | $40.00 | $60.8K | 9.7K | 1.3K |
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.
In light of the recent options history for Pinterest, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Pinterest
- With a trading volume of 2,756,936, the price of PINS is up by 1.23%, reaching $37.84.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 27 days from now.
Professional Analyst Ratings for Pinterest
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $39.5.
- An analyst from RBC Capital has elevated its stance to Outperform, setting a new price target at $46.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Pinterest, targeting a price of $32.
- An analyst from Wedbush has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $35.
- Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $45.
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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