Deep-pocketed investors have adopted a bearish 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 7% leaning bullish and 84% bearish. Among these notable options, 2 are puts, totaling $149,016, and 11 are calls, amounting to $754,661.
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 $24.0 and $40.0 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 $24.0 to $40.0 in the last 30 days.
Pinterest Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | CALL | SWEEP | BEARISH | 11/01/24 | $2.92 | $2.55 | $2.57 | $31.00 | $128.5K | 4.5K | 500 |
| PINS | PUT | SWEEP | BEARISH | 12/20/24 | $7.45 | $7.35 | $7.45 | $40.00 | $123.6K | 442 | 1 |
| PINS | CALL | TRADE | BEARISH | 01/17/25 | $10.1 | $10.0 | $10.0 | $24.00 | $100.0K | 0 | 0 |
| PINS | CALL | TRADE | BEARISH | 11/01/24 | $2.87 | $2.49 | $2.56 | $31.00 | $88.8K | 4.5K | 2.6K |
| PINS | CALL | TRADE | BEARISH | 11/01/24 | $2.72 | $2.52 | $2.55 | $31.00 | $68.8K | 4.5K | 3.8K |
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.
Having examined the options trading patterns of Pinterest, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Pinterest's Current Market Status
- Currently trading with a volume of 557,548, the PINS's price is down by -1.43%, now at $33.19.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 22 days.
What The Experts Say On 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 $43.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Oppenheimer downgraded its action to Outperform with a price target of $45. * Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Pinterest with a target price of $45. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $41. * An analyst from Cantor Fitzgerald downgraded its action to Overweight with a 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.
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