A significant position has been taken a wealthy individual or institution, indicating a bearish outlook on Pinterest (PINS). This development, identified through publicly available options history tracked Benzinga, often indicates that the trader has insider knowledge about an upcoming event.
Benzinga’s options scanner discovered 33 unusual options trades for Pinterest, which is not a common occurrence. The sentiment among these high-value traders is divided, with 42% being bullish and 57% bearish. Among these trades, 15 are puts, totaling $615,048, and 18 are calls, totaling $1,295,226.
In terms of price targets, analyzing the volume and open interest on these contracts suggests that the whales have been targeting a price range of $19.0 to $33.0 for Pinterest over the past three months. The mean open interest for Pinterest options trades stood at 4492.25, with a total volume of 38,638.00.
The chart provided displays the volume and open interest of call and put options for Pinterest’s significant trades within the strike price range of $19.0 to $33.0 over the last 30 days.
This data reveals specific trades made for Pinterest, including their symbol, put/call designation, trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume. Notable trades included both bearish and bullish sentiments.
As for Pinterest’s current status, its volume is 11,113,173, and the stock price has increased 3.58% to $26.31. RSI indicators suggest that the stock is currently in a neutral position, neither overbought nor oversold. The next earnings report is expected to be released in 37 days.
The experts at RBC Capital and Wedbush have downgraded their actions on Pinterest to Sector Perform and Neutral, respectively, with price targets of $30.
Options trading carries higher risks compared to trading the stock itself, but it also presents greater profit potential. Experienced options traders manage these risks staying informed, scaling in and out of trades, following multiple indicators, and closely monitoring the markets.
For real-time options trade alerts and to stay updated on the latest options trades for Pinterest, Benzinga Pro provides a comprehensive solution.
