A Closer Look at Snowflake's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bearish stance on Snowflake.

Looking at options history for Snowflake SNOW we detected 30 trades.

If we consider the specifics of each trade, it is accurate to state that 43% of the investors opened trades with bullish expectations and 56% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $205,795 and 25, calls, for a total amount of $2,816,827.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $160.0 to $230.0 for Snowflake during the past quarter.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Snowflake's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snowflake's whale activity within a strike price range from $160.0 to $230.0 in the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Snowflake

Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.

In light of the recent options history for Snowflake, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Snowflake

• Trading volume stands at 1,935,753, with SNOW's price down by -0.2%, positioned at $209.12.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 29 days.

Professional Analyst Ratings for Snowflake

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $210.0.

• An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $212.
• An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $230.
• An analyst from Monness, Crespi, Hardt downgraded its action to Sell with a price target of $160.
• Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $198.
• An analyst from Piper Sandler persists with their Overweight rating on Snowflake, maintaining a target price of $250.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Snowflake, Benzinga Pro gives you real-time options trades alerts.