Pinterest Unusual Options Activity

Investors with a lot of money to spend have taken a bearish 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 9 uncommon options trades for Pinterest.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 66%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $249,950, and 4 are calls, for a total amount of $141,982.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $25.0 and $40.0 for Pinterest, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Pinterest's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Pinterest's significant trades, within a strike price range of $25.0 to $40.0, over the past month.

Pinterest Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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

• Currently trading with a volume of 2,148,151, the PINS's price is down by -2.41%, now at $31.73.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 67 days.

What Analysts Are Saying About 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 $42.6.

• An analyst from Raymond James has decided to maintain their Outperform rating on Pinterest, which currently sits at a price target of $40.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Pinterest with a target price of $38.
• An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $46.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Pinterest with a target price of $44.
• An analyst from Susquehanna persists with their Positive rating on Pinterest, maintaining a target price 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.