Investors with a lot of money to spend have taken a bullish stance on Pinterest PINS.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PINS, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Pinterest.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $503,432, and 2 are calls, for a total amount of $91,300.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $42.0 for Pinterest over the recent three months.
Volume & Open Interest Trends
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 $40.0 to $42.0 in the last 30 days.
Pinterest Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | PUT | SWEEP | BEARISH | 08/16/24 | $2.29 | $2.25 | $2.28 | $42.00 | $151.5K | 2.4K | 96 |
| PINS | PUT | SWEEP | BEARISH | 08/16/24 | $2.35 | $2.32 | $2.34 | $42.00 | $114.8K | 2.4K | 1.8K |
| PINS | PUT | SWEEP | BEARISH | 08/16/24 | $2.26 | $2.25 | $2.27 | $42.00 | $63.5K | 2.4K | 1.5K |
| PINS | CALL | SWEEP | BULLISH | 09/20/24 | $5.8 | $5.7 | $5.8 | $40.00 | $52.2K | 939 | 0 |
| PINS | CALL | SWEEP | BULLISH | 08/16/24 | $4.6 | $4.5 | $4.6 | $41.00 | $39.0K | 618 | 0 |
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.
Current Position of Pinterest
- With a trading volume of 1,923,178, the price of PINS is down by -2.7%, reaching $42.88.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 29 days from now.
Professional Analyst Ratings for Pinterest
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $50.5.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Pinterest, which currently sits at a price target of $52.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Pinterest with a target price of $49.
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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