Bernie Schaeffer is an industry-leading expert in options and technical trading; for those familiar with options, here are two recent trading ideas from Schaeffer's Investment Research's The Option Advisor.

Social media name Pinterest (PINS) is enjoying a surge in usage as consumers flock to the online idea board for home improvement tips amid stay-at-home orders wrought from the COVID-19 pandemic.

The equity also looks poised to take back its initial public offering (IPO) level of $19, as it has now crossed above the $18.85 closing threshold and year-to-date breakeven mark.

Pinterest is slated to give its next quarterly report in May, a potential signal for incoming volatility, as the shares gapped higher the day after two of its last three previous reports.

Short interest is at an all-time high for the security, last seen at 22.70 million shares. In fact, short interest on the stock surged 54.3% during the past two reporting periods, and now accounts for over 26% of PINS total available float.

There also looks to be plenty of room for analyst upgrades, as nine of the 19 covering firms sport a tepid "hold" recommendation.

Meanwhile in the options pits, a large amount of weekly 4/24 18.50 calls just expired this past Friday, and there is a put-heavy slate in the upcoming May series that could unwind and provide additional options-related support. For options traders, our recommendation is to buy the June 19, 2020 17-strike call.

After a rough March, social media stock Snap Inc. (SNAP) gapped higher in April in the wake of its most recent quarterly report.

The stock's 200-day moving average is now in place to act as a springboard, as SNAP looks to take out its IPO level at $17. Up ahead, the $18.75 area is more than double the shares' March closing low and could act as a technical magnet going forward.

A short squeeze could also help SNAP reclaim that area. Short interest fell 9% in the most recent reporting period, yet the 105.25 million shares sold short still account for a healthy 12.8% of the stock's total available float.

At the equity's average pace of trading, it would take more than three days for shorts to cover their bearish bets; an ample amount of buying power that could hit the market. For experienced options traders, our recommendation is to sell the May 15, 2020 14.50-strike put.

Subscribe to Schaeffer's Investment Research Option Advisor here…