27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Investors with a lot of money to spend have taken a bearish stance on Pinterest (NYSE: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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with PINS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 17 options trades for Pinterest.
This isn't normal.
The overall sentiment of these big-money traders is split between 29% bullish and 70%, bearish.
Out of all of the options we uncovered, 16 are puts, for a total amount of $1,231,789, and there was 1 call, for a total amount of $42,640.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $45.0 for Pinterest over the recent three months.
Volume & Open Interest Trends
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 $45.0, over the past month.
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 | PUT | TRADE | BULLISH | 05/17/24 | $0.29 | $0.26 | $0.26 | $25.00 | $403.0K | 966 | 16.0K |
| PINS | PUT | SWEEP | BEARISH | 07/19/24 | $7.55 | $7.45 | $7.55 | $39.00 | $110.2K | 71 | 8 |
| PINS | PUT | SWEEP | BEARISH | 11/15/24 | $9.9 | $9.85 | $9.85 | $41.00 | $103.4K | 0 | 106 |
| PINS | PUT | SWEEP | BEARISH | 08/16/24 | $10.15 | $10.1 | $10.15 | $42.00 | $81.1K | 210 | 10 |
| PINS | PUT | SWEEP | BULLISH | 05/17/24 | $5.25 | $5.15 | $5.15 | $37.00 | $77.2K | 513 | 128 |
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.
Present Market Standing of Pinterest
- With a volume of 2,558,502, the price of PINS is up 0.49% at $32.74.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 13 days.
Expert Opinions on Pinterest
In the last month, 1 experts released ratings on this stock with an average target price of $48.0.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $48.
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.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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