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 8 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, 2 are puts, for a total amount of $91,564, and 6 are calls, for a total amount of $500,910.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $22.0 and $33.5 for Pinterest, spanning the last 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 $22.0 to $33.5 in the last 30 days.
Pinterest 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | CALL | SWEEP | BULLISH | 09/13/24 | $0.45 | $0.39 | $0.43 | $32.50 | $228.9K | 2.2K | 5.4K |
| PINS | CALL | SWEEP | BEARISH | 11/15/24 | $4.3 | $4.25 | $4.25 | $29.00 | $119.4K | 446 | 1 |
| PINS | PUT | SWEEP | BULLISH | 12/20/24 | $1.96 | $1.94 | $1.94 | $30.00 | $54.5K | 1.6K | 283 |
| PINS | CALL | TRADE | BULLISH | 09/13/24 | $0.32 | $0.27 | $0.32 | $33.50 | $41.2K | 5 | 1.5K |
| PINS | CALL | SWEEP | BEARISH | 10/18/24 | $2.08 | $2.04 | $2.04 | $31.00 | $40.8K | 535 | 761 |
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.
Following our analysis of the options activities associated with Pinterest, we pivot to a closer look at the company's own performance.
Pinterest's Current Market Status
- Currently trading with a volume of 2,295,759, the PINS's price is up by 0.54%, now at $31.37.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 59 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Pinterest with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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