Whales with a lot of money to spend have taken a noticeably bullish 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 41% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $272,244 and 17, calls, for a total amount of $994,609.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $85.0 and $300.0 for Snowflake, spanning the last three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snowflake's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snowflake's significant trades, within a strike price range of $85.0 to $300.0, over the past month.
Snowflake Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BEARISH | 05/31/24 | $8.15 | $8.0 | $8.05 | $167.50 | $239.8K | 104 | 393 |
| SNOW | CALL | TRADE | BULLISH | 05/24/24 | $3.35 | $3.35 | $3.35 | $180.00 | $134.0K | 3.0K | 966 |
| SNOW | CALL | TRADE | BEARISH | 01/16/26 | $94.7 | $92.05 | $92.85 | $85.00 | $92.8K | 18 | 10 |
| SNOW | CALL | TRADE | BULLISH | 01/17/25 | $70.95 | $70.0 | $70.59 | $100.00 | $70.5K | 256 | 10 |
| SNOW | PUT | SWEEP | BEARISH | 01/17/25 | $6.2 | $6.05 | $6.19 | $120.00 | $61.7K | 1.7K | 252 |
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.
Where Is Snowflake Standing Right Now?
- Currently trading with a volume of 1,523,860, the SNOW's price is up by 1.86%, now at $164.87.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 2 days.
Professional Analyst Ratings for Snowflake
3 market experts have recently issued ratings for this stock, with a consensus target price of $218.33333333333334.
- An analyst from B of A Securities persists with their Neutral rating on Snowflake, maintaining a target price of $200.
- An analyst from RBC Capital has decided to maintain their Outperform rating on Snowflake, which currently sits at a price target of $220.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $235.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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