Pinterest Whale Trades Spotted

 

Someone with a lot of money to spend has taken a bullish stance on Pinterest PINS.

And retail traders should know.

We noticed this today when the big position 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Pinterest.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $635,954, and 6 are calls, for a total amount of $874,560.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $28.0 for Pinterest over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Pinterest options trades today is 4690.27 with a total volume of 2,050.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Pinterest's big money trades within a strike price range of $10.0 to $28.0 over the last 30 days.

Pinterest Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PINS CALL SWEEP BEARISH 06/16/23 $10.00 $360.7K 668 437
PINS PUT TRADE BULLISH 01/20/23 $15.00 $237.6K 12.0K 16
PINS CALL SWEEP NEUTRAL 06/16/23 $10.00 $226.1K 668 169
PINS PUT TRADE BEARISH 01/20/23 $23.00 $102.0K 5.9K 266
PINS CALL TRADE BEARISH 01/20/23 $15.00 $88.5K 1.3K 1

Where Is Pinterest Standing Right Now?

  • With a volume of 11,946,259, the price of PINS is down -1.51% at $22.55.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 86 days.

What The Experts Say On Pinterest:

  • Credit Suisse has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $26.
  • Keybanc has decided to maintain their Overweight rating on Pinterest, which currently sits at a price target of $24.
  • UBS has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $26.
  • Evercore ISI Group has decided to maintain their In-Line rating on Pinterest, which currently sits at a price target of $28.
  • Barclays has decided to maintain their Equal-Weight rating on Pinterest, which currently sits at a price target of $23.

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.

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Posted In: OptionsMarketsBZI-UOA
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