PINS Options Play Update
February 2, 2023
By Scott Redler
On January 10, I shared a bonus options play in Pinterest (PINS).
I said I'd be looking at a PINS $26/30 call spread with a February 3 expiration.
Since expiration is tomorrow, I wanted to provide a quick update.
When I shared the spread idea, it was trading around $1.10 to $1.20.
But with PINS surging after Meta's (META) big earnings report, the spread is now in the $2.60 to $2.90 area.
Here's how I'd play it.
I'd take off half today, and let the second half ride into tomorrow.
Some big tech names like Apple (AAPL), Amazon (AMZN), and Google (GOOGL) report after the close.
If we get good news and PINS gets over $30, the spread could max out tomorrow at $4.
Scott Redler Positions Disclosure as of 2023-02-02 at 10.08.59 AM