Looking At Pinterest's Recent Unusual Options Activity

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 11 extraordinary options activities for Pinterest. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 36% leaning bullish and 63% bearish. Among these notable options, 3 are puts, totaling $181,115, and 8 are calls, amounting to $750,412.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $44.0 for Pinterest over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Pinterest stands at 1686.1, with a total volume reaching 5,509.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Pinterest, situated within the strike price corridor from $35.0 to $44.0, throughout the last 30 days.

Pinterest 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Pinterest

Pinterest is an online product and idea discovery platform that helps users gather ideas on everything from recipes to cook to destinations to travel to. Founded in 2010, the platform consists of a largely female audience, at roughly two thirds of its 450 million monthly active users. The company generates revenue by selling digital ads and is now rolling out more in-platform e-commerce features.

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

Where Is Pinterest Standing Right Now?

• With a trading volume of 5,132,038, the price of PINS is down by -0.2%, reaching $39.09.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 9 days from now.

Professional Analyst Ratings for Pinterest

5 market experts have recently issued ratings for this stock, with a consensus target price of $41.8.

• An analyst from BMO Capital has revised its rating downward to Outperform, adjusting the price target to $45.
• An analyst from Stifel persists with their Buy rating on Pinterest, maintaining a target price of $32.
• Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Pinterest with a target price of $50.
• Showing optimism, an analyst from Argus Research upgrades its rating to Buy with a revised price target of $45.
• An analyst from Roth MKM has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $37.

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.