Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bullish stance on Pinterest(NYSE:PINS).
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
This unusual options alert can help traders discover the next big trading opportunities. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. Unusual trading activity could push option prices to exaggerated or underestimated levels.
Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.
Bitcoin (/BTC) topped $50,000 this morning for the first since May, but traders may be more focused on oil prices and yields. Crude oil (/CL) is continuing its rise as futures traded more than 1% higher before the market open.
Shares of large technology companies, including Pinterest Inc (NYSE: PINS), are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.