Put Options on PINS on 5/1/2023

Pinterest, Inc. (PINS) operates as a visual discovery engine in the United States and internationally. 

The company's engine allows people to find ideas, such as recipes, home and style inspiration, and others; provides video, product, and idea pins; and offers organizing and planning tools. I

t shows organic recommendations and advertising engine based on pinners tastes and preferences; and enables pinners with shoppable product pins, which include price, color, and size that redirect to retailer websites. 

Shares tumbled more than 18% after it reported its earnings. The company warned of lower earnings. The company said it expects second quarter revenue of $689.9 million to $697.9 million. The prior consensus revenue estimate was $707.82 million for the quarter ending June 30, 2023. 

Lower share prices are expected.

We will be trading May 19th Put options

Entry Point: $23.00

Trading Range: $16.14 - $29.27

Trade Buy 1 May $24.00 Put at $1.40 For a net debit of $1.40 Profit/Loss Analysis Breakeven at $22.60 Maximum profit is unbounded Maximum loss is ($140.00) at strike of $24.00 Closing Summary Sold 1 May $24.00 Put at $2.00

Position closed on 5/19/2023 at price of $2.00 with a 42.86% gain in 18 days.

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