Our Unusual Options Scan is picking up a lot of bearish flow on the options side.
This scan shows big heavy bets by large institutions through unusual options activity, and right now it’s detecting big time put activity — especially in today’s Chart of the Week, Pinterest (PINS).
There’s a lot of aggressive bets going on, showing a lot of divergence from an intermarket standpoint.
With bonds rolling over commodities, the overwhelming evidence suggest that we want to continue to short stocks.
With a particularly clean level and unusual bearish activity in PINS, we are short if the stock is below $59.
Above that level, we’re just watching, but if we’re below $59, we’re short with a price target of $40.
Til next week, good trading,
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