Pinterest (PINS)

By JC Parets Wed, Jun 9, 2021

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,

JC Parets

About the Author

JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.