PINS Calls Pop After Stock Jumps Again

There's still plenty of skepticism surrounding PINS stock

Digital Content Manager
Jan 15, 2020 at 12:35 PM
facebook X logo linkedin

Social media name Pinterest Inc (NYSE:PINS) is surging today, pacing for a second straight day of big gains after research firm eMarketer unveiled data that showed PINS U.S. user base surpassed Snap's (SNAP) Snapchat last year, making it the third largest social media platform. The data also showed the online scrapbook reaches a broader number of age groups. At last check, PINS is up 3.8% at $22.31 -- on track for its highest close since late October. 

The options pits are swarming with activity in response; so far, 57,000 calls and 11,000 puts have exchanged hands -- six times what's typically seen at this point. The January 2020 23-strike call is most popular, followed by the 22-strike call in the same series, with positions being opened at both. 

This preference for bullish bets isn't uncommon. On the the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 9.37 calls have been bought to open for every put during the last 10 days.

Conversely, short interest shot up 17.9% in the last reporting period, and now represents a solid 17.3% of the stock's available float. As such, some of this recent call buying could be at the hands of shorts hedging against any additional upside risk.

Despite its 22.5% monthly gain, PINS still has a ways to go if it wants to close its post-earnings bear gap, which dropped the stock from the $25 level in early November. That being said, the equity is on course to topple its 80-day moving average for the first time in nearly four months. 

A round of upgrades could push Pinterest higher, too. Right now, 10 analysts in coverage consider the security a "hold," compared to eight who call it a "buy" or better. The consensus 12-month target price, on the other hand, is sitting at the security's pre-bear gap levels, all the way at $26.31. 



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI