What the Options Market Tells Us About Pinterest
Portfolio Pulse from Benzinga Insights
Recent options market activity indicates a bearish sentiment towards Pinterest (NYSE:PINS), with a significant portion of trades being bearish. The options trades target a price range of $37.0 to $48.0 for Pinterest. Analysis of volume and open interest for Pinterest's options shows a concentration of activity in this price range. Pinterest's current trading volume is 5,204,746, with a price increase of 3.63%, and an RSI indicating it may be approaching overbought. Earnings are expected in 2 days, and analysts have given mixed ratings with an average target price of $42.4.
February 06, 2024 | 4:31 pm
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NEGATIVE IMPACT
Bearish options market activity, with a price target range of $37-$48. Current trading volume is high, price up 3.63%, and RSI indicates potential overbought status. Mixed analyst ratings with an average target price of $42.4.
The bearish sentiment in the options market, combined with the high trading volume and the RSI approaching overbought territory, suggests a potential short-term price decline for Pinterest. However, the upcoming earnings announcement and mixed analyst ratings introduce uncertainty, justifying a slightly reduced confidence level.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100