Investors with a lot of money to spend have taken a bearish stance on Pinterest (NYSE:PINS).
And retail traders should know.
We noticed this today when the trades 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 10 options trades for Pinterest.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $408,500, and there was 1 call, for a total amount of $52,717.
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 $29.0 to $38.0 for Pinterest over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Pinterest's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Pinterest's whale activity within a strike price range from $29.0 to $38.0 in the last 30 days.
Pinterest 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PINS | PUT | SWEEP | BULLISH | 12/20/24 | $7.45 | $7.4 | $7.4 | $36.00 | $96.9K | 110 | 141 |
| PINS | PUT | SWEEP | BULLISH | 12/20/24 | $9.35 | $9.25 | $9.25 | $38.00 | $78.6K | 196 | 1 |
| PINS | CALL | SWEEP | BEARISH | 11/15/24 | $3.15 | $3.1 | $3.1 | $29.00 | $52.7K | 82 | 182 |
| PINS | PUT | SWEEP | NEUTRAL | 11/15/24 | $3.65 | $3.55 | $3.6 | $31.00 | $40.6K | 178 | 133 |
| PINS | PUT | SWEEP | BEARISH | 11/15/24 | $3.65 | $3.55 | $3.6 | $31.00 | $39.9K | 178 | 244 |
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.
Pinterest's Current Market Status Currently trading with a volume of 12,017,055, the PINS's price is up by 0.24%, now at $28.73. RSI readings suggest the stock is currently may be oversold. Anticipated earnings release is in 83 days. What Analysts Are Saying About Pinterest
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $45.4.
An analyst from Rosenblatt persists with their Buy rating on Pinterest, maintaining a target price of $48. An analyst from JP Morgan persists with their Neutral rating on Pinterest, maintaining a target price of $38. An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $45. An analyst from RBC Capital persists with their Outperform rating on Pinterest, maintaining a target price of $48. Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Pinterest with a target price of $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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
