Pinterest Option Alert: May 3 $32.5 Calls Sweep (34) near the Ask: 792 @ $2.732 vs 3 OI; Earnings 4/30 After Close Ref=$33.135
Portfolio Pulse from Charles Gross
A significant option activity was observed for Pinterest (PINS) with a sweep of 34 contracts for May 3 $32.5 calls, purchased near the ask price at $2.732 each, against an open interest of 3 contracts. This activity occurred with Pinterest's stock trading at $33.135, ahead of its earnings announcement scheduled for April 30 after the market closes.
April 18, 2024 | 2:18 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The observed options activity suggests a bullish sentiment among investors for Pinterest's stock ahead of its earnings report.
The purchase of calls near the ask price, especially in a sweep order, indicates that investors are willing to pay a premium for the potential upside they anticipate from the upcoming earnings report. Given the timing and the specific strike price chosen, this activity can lead to increased volatility and potentially higher stock prices for Pinterest in the short term, especially if the earnings report exceeds market expectations.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90