Deep-pocketed investors have adopted a bullish approach towards Pinterest PINS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PINS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Pinterest. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 46% leaning bullish and 38% bearish. Among these notable options, 8 are puts, totaling $1,168,240, and 5 are calls, amounting to $193,724.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $40.0 for Pinterest during the past quarter.
Analyzing 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 $15.0 to $40.0, over the past month.
Pinterest Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | PUT | TRADE | BULLISH | 01/17/25 | $3.45 | $3.35 | $3.35 | $30.00 | $837.5K | 7.4K | 2.6K |
| PINS | PUT | SWEEP | BEARISH | 01/16/26 | $2.85 | $2.62 | $2.8 | $23.00 | $112.7K | 644 | 444 |
| PINS | CALL | SWEEP | BULLISH | 09/13/24 | $0.38 | $0.19 | $0.19 | $31.00 | $45.0K | 308 | 2.9K |
| PINS | PUT | SWEEP | BEARISH | 01/16/26 | $2.81 | $2.62 | $2.8 | $23.00 | $44.1K | 644 | 708 |
| PINS | CALL | SWEEP | NEUTRAL | 01/16/26 | $3.3 | $3.25 | $3.25 | $40.00 | $43.6K | 2.4K | 167 |
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.
Present Market Standing of Pinterest
- With a trading volume of 4,701,814, the price of PINS is down by -5.11%, reaching $29.23.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 52 days from now.
Professional Analyst Ratings for Pinterest
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $41.0.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $41.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
