Deep-pocketed investors have adopted a bullish approach towards Snowflake SNOW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 45% leaning bullish and 40% bearish. Among these notable options, 8 are puts, totaling $425,280, and 14 are calls, amounting to $705,288.
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 $85.0 to $190.0 for Snowflake during the past quarter.
Analyzing Volume & Open Interest
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 $85.0 to $190.0 in the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BEARISH | 01/17/25 | $22.7 | $22.55 | $22.7 | $160.00 | $108.9K | 1.2K | 51 |
| SNOW | CALL | TRADE | BEARISH | 08/16/24 | $5.45 | $5.4 | $5.4 | $170.00 | $105.8K | 1.3K | 215 |
| SNOW | CALL | SWEEP | BULLISH | 08/16/24 | $6.85 | $6.75 | $6.85 | $165.00 | $84.9K | 1.0K | 323 |
| SNOW | CALL | SWEEP | BEARISH | 01/16/26 | $81.85 | $80.0 | $80.0 | $85.00 | $80.0K | 28 | 4 |
| SNOW | PUT | TRADE | BEARISH | 07/19/24 | $8.0 | $7.8 | $8.0 | $155.00 | $80.0K | 2.4K | 100 |
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.
Having examined the options trading patterns of Snowflake, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Snowflake
- Currently trading with a volume of 2,492,815, the SNOW's price is down by -2.67%, now at $151.99.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 85 days.
What The Experts Say On Snowflake
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $201.0.
- An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $235.
- An analyst from Baird persists with their Outperform rating on Snowflake, maintaining a target price of $200.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Snowflake, targeting a price of $185.
- Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Snowflake, targeting a price of $195.
- Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Snowflake with a target price of $190.
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.
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