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Looking At Pinterest's Recent Whale Trades

Someone with a lot of money to spend has taken a bearish stance on Pinterest (NYSE: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.

Benzinga · 12/29/2021 11:32

Someone with a lot of money to spend has taken a bearish stance on Pinterest (NYSE: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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 12 uncommon options trades for Pinterest.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $254,246, and 7 are calls, for a total amount of $454,355.

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 $30.0 to $75.0 for Pinterest over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $30.0 to $75.0 in the last 30 days.

Pinterest Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
PINS CALL SWEEP BULLISH 05/20/22 $35.00 $174.0K 229 304
PINS PUT TRADE BULLISH 06/17/22 $75.00 $78.7K 43 0
PINS CALL SWEEP BULLISH 01/21/22 $30.00 $67.0K 2.0K 100
PINS PUT TRADE BEARISH 02/18/22 $65.00 $64.9K 388 2
PINS CALL SWEEP BULLISH 05/20/22 $35.00 $58.0K 229 304

Where Is Pinterest Standing Right Now?

  • With a volume of 2,446,779, the price of PINS is down -2.11% at $35.75.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 36 days.

What The Experts Say On Pinterest:

  • JP Morgan has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $50.
  • Citigroup has decided to maintain their Neutral rating on Pinterest, which currently sits at a price target of $42.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.