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 8 extraordinary options activities for Pinterest. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 25% bearish. Among these notable options, 2 are puts, totaling $50,843, and 6 are calls, amounting to $244,679.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $32.0 to $36.0 for Pinterest over the last 3 months.
Volume & Open Interest Development
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 $32.0 to $36.0 in the last 30 days.
Pinterest 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | CALL | SWEEP | NEUTRAL | 11/08/24 | $1.6 | $1.49 | $1.6 | $36.00 | $80.0K | 568 | 518 |
| PINS | CALL | SWEEP | BEARISH | 11/15/24 | $2.23 | $2.22 | $2.22 | $35.00 | $37.2K | 3.4K | 737 |
| PINS | CALL | SWEEP | BEARISH | 11/08/24 | $1.73 | $1.72 | $1.72 | $35.50 | $35.4K | 3.1K | 287 |
| PINS | CALL | SWEEP | BULLISH | 11/08/24 | $2.1 | $2.05 | $2.1 | $35.00 | $35.2K | 3.0K | 1.4K |
| PINS | CALL | SWEEP | BULLISH | 11/08/24 | $1.57 | $1.53 | $1.57 | $36.00 | $31.4K | 568 | 718 |
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.
Where Is Pinterest Standing Right Now?
- Trading volume stands at 8,000,749, with PINS's price up by 1.35%, positioned at $34.22.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 0 days.
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 $45.0.
Turn $1000 into $1270 in just 20 days?
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 Keybanc persists with their Overweight rating on Pinterest, maintaining a target price of $45.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Pinterest, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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