Pinterest earnings skyrocketed their option call by +140%
Pinterest soared well over 35% pre-market today 7/31/2020.
Making the PINS options call increase up to 140%+ gains. What an amazing play this was if you swung this trade.
I purchased PINS Option Call November 20 @ $23.50 back in 7/22.
There was a point during the swing where I felt like I should be getting out but remember you need to follow the big money movers. There was a $2.1M Block so each time you hear this, something usually big happens.
Our exit was going to be post ER since Pinterest was not trying to co-operate. However on earnings it soared up to +35% pre-market.
It ended up Pintrest PINS out performed on earnings.
When a stock soars like this the next day the only thing you should do is either take some off or sell it all. This one was a pretty easy play and in my mindset, I was already at a lost before this was going to come up since the stock kept coming down.
Since this was the last trade of the month, I decided I was done. So I will be updating my progress for the month of July which will look good with PINS.
