Someone with a lot of money to spend has taken a bearish 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.
Today, Benzinga's options scanner spotted 14 options trades for Pinterest.
This isn't normal.
The overall sentiment of these big-money traders is split between 14% bullish and 85%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $29,920, and 13, calls, for a total amount of $588,477..
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 $18.0 to $26.0 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 1556.38 with a total volume of 28,637.00.
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 $18.0 to $26.0 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 | 07/21/23 | $26.00 | $113.3K | 59 | 3.3K |
| PINS | CALL | SWEEP | BULLISH | 08/18/23 | $25.00 | $60.1K | 1.2K | 402 |
| PINS | CALL | SWEEP | BEARISH | 07/21/23 | $26.00 | $47.6K | 59 | 1.5K |
| PINS | CALL | SWEEP | BEARISH | 07/21/23 | $26.00 | $46.9K | 59 | 5.8K |
| PINS | CALL | SWEEP | BEARISH | 06/02/23 | $22.00 | $45.1K | 3.7K | 283 |
Where Is Pinterest Standing Right Now?
- With a volume of 15,662,726, the price of PINS is up 2.77% at $23.91.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 69 days.
What The Experts Say On Pinterest:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Pinterest, which currently sits at a price target of $21.
- Raymond James has decided to maintain their Outperform rating on Pinterest, which currently sits at a price target of $30.
- Rosenblatt has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $27.
- B of A Securities has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $29.
- Bernstein has decided to maintain their Market Perform 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.
© 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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