Investors with a lot of money to spend have taken a bearish stance on Pinterest PINS.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, 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 8 options trades for Pinterest.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $47,680, and 7, calls, for a total amount of $1,311,007.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $33.0 to $44.0 for Pinterest during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Pinterest's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Pinterest's substantial trades, within a strike price spectrum from $33.0 to $44.0 over the preceding 30 days.
Pinterest Option Volume And Open Interest Over 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 | CALL | SWEEP | BEARISH | 05/17/24 | $7.3 | $7.1 | $7.3 | $33.00 | $507.4K | 2.3K | 1.2K |
| PINS | CALL | SWEEP | BULLISH | 05/17/24 | $7.35 | $7.3 | $7.35 | $33.00 | $371.9K | 2.3K | 5 |
| PINS | CALL | SWEEP | BEARISH | 05/17/24 | $7.35 | $7.2 | $7.2 | $33.00 | $201.6K | 2.3K | 1.2K |
| PINS | CALL | SWEEP | BEARISH | 05/17/24 | $7.35 | $7.25 | $7.25 | $33.00 | $116.7K | 2.3K | 1.2K |
| PINS | PUT | SWEEP | BEARISH | 12/20/24 | $2.39 | $2.3 | $2.39 | $35.00 | $47.6K | 241 | 110 |
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
- With a volume of 2,737,851, the price of PINS is up 0.07% at $40.44.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 85 days.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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