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 24 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $398,117 and 17, calls, for a total amount of $789,250.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $195.0 for Snowflake over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snowflake's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snowflake's substantial trades, within a strike price spectrum from $115.0 to $195.0 over the preceding 30 days.
Snowflake Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BEARISH | 04/26/24 | $170.00 | $109.4K | 257 | 18 |
| SNOW | PUT | TRADE | BULLISH | 03/15/24 | $170.00 | $87.2K | 2.8K | 393 |
| SNOW | PUT | SWEEP | BULLISH | 12/20/24 | $180.00 | $72.4K | 195 | 32 |
| SNOW | CALL | TRADE | BEARISH | 04/05/24 | $150.00 | $71.6K | 5 | 91 |
| SNOW | PUT | SWEEP | BULLISH | 09/20/24 | $180.00 | $71.3K | 999 | 38 |
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.
Following our analysis of the options activities associated with Snowflake, we pivot to a closer look at the company's own performance.
Present Market Standing of Snowflake
- With a trading volume of 3,009,960, the price of SNOW is down by -0.22%, reaching $161.6.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 70 days from now.
What The Experts Say On Snowflake
In the last month, 5 experts released ratings on this stock with an average target price of $241.8.
- Reflecting concerns, an analyst from HSBC lowers its rating to Hold with a new price target of $214.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Snowflake with a target price of $250.
- An analyst from Citigroup has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $290.
- Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Snowflake with a target price of $235.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Snowflake, targeting a price of $220.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snowflake options trades with real-time alerts from Benzinga Pro.
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