A whale with a lot of money to spend has taken a noticeably bearish stance on Pinterest.
Looking at options history for Pinterest (NYSE:PINS) we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $928,630 and 3, calls, for a total amount of $141,298.
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 $15.0 to $52.5 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 1963.5 with a total volume of 4,142.00.
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 $15.0 to $52.5 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 | PUT | SWEEP | BULLISH | 09/16/22 | $52.50 | $277.3K | 1.1K | 539 |
| PINS | PUT | TRADE | BEARISH | 01/19/24 | $25.00 | $171.1K | 3.3K | 0 |
| PINS | PUT | SWEEP | BEARISH | 04/29/22 | $20.00 | $148.5K | 3.0K | 819 |
| PINS | PUT | TRADE | BULLISH | 06/17/22 | $20.00 | $116.0K | 3.5K | 83 |
| PINS | CALL | TRADE | BEARISH | 01/20/23 | $28.00 | $76.6K | 1.7K | 117 |
Where Is Pinterest Standing Right Now?
- With a volume of 4,833,057, the price of PINS is down -4.89% at $19.02.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Pinterest:
- Rosenblatt downgraded its action to Neutral with a price target of $21
- Citigroup downgraded its action to Neutral with a price target of $27
- Keybanc has decided to maintain their Overweight rating on Pinterest, which currently sits at a price target of $36.
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $30
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.
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