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 13 extraordinary options activities for Pinterest. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 15% leaning bullish and 84% bearish. Among these notable options, 10 are puts, totaling $414,562, and 3 are calls, amounting to $109,510.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $29.0 to $45.0 for Pinterest during the past quarter.
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 $29.0 to $45.0, over the past month.
Pinterest Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PINS | PUT | SWEEP | BEARISH | 01/17/25 | $45.00 | $60.1K | 433 | 37 |
| PINS | PUT | TRADE | BULLISH | 05/17/24 | $35.00 | $59.1K | 457 | 244 |
| PINS | PUT | TRADE | BEARISH | 02/16/24 | $38.00 | $45.4K | 532 | 168 |
| PINS | PUT | TRADE | BEARISH | 02/16/24 | $38.00 | $45.3K | 532 | 7 |
| PINS | CALL | TRADE | BEARISH | 02/02/24 | $39.00 | $44.8K | 0 | 1.2K |
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.
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
- Trading volume stands at 3,641,601, with PINS's price up by 0.75%, positioned at $37.4.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 46 days.
What Analysts Are Saying About Pinterest
In the last month, 4 experts released ratings on this stock with an average target price of $43.75.
- An analyst from Jefferies has elevated its stance to Buy, setting a new price target at $41.
- An analyst from Piper Sandler persists with their Overweight rating on Pinterest, maintaining a target price of $40.
- In a positive move, an analyst from RBC Capital has upgraded their rating to Outperform and adjusted the price target to $46.
- An analyst from New Street Research has revised its rating downward to Buy, adjusting the price target to $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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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