Financial giants have made a conspicuous bullish move on Snowflake. Our analysis of options history for Snowflake SNOW revealed 44 unusual trades.
Delving into the details, we found 45% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 23 were puts, with a value of $1,938,874, and 21 were calls, valued at $1,113,699.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $80.0 to $210.0 for Snowflake over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Snowflake stands at 887.23, with a total volume reaching 19,311.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Snowflake, situated within the strike price corridor from $80.0 to $210.0, throughout the last 30 days.
Snowflake Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BEARISH | 02/21/25 | $15.7 | $15.45 | $15.6 | $125.00 | $421.2K | 51 | 270 |
| SNOW | PUT | TRADE | BULLISH | 06/20/25 | $18.85 | $17.45 | $17.8 | $120.00 | $320.4K | 1.2K | 360 |
| SNOW | CALL | SWEEP | BULLISH | 10/18/24 | $10.65 | $10.6 | $10.6 | $130.00 | $273.5K | 507 | 458 |
| SNOW | PUT | TRADE | NEUTRAL | 10/18/24 | $3.95 | $3.85 | $3.9 | $110.00 | $136.5K | 696 | 496 |
| SNOW | PUT | TRADE | BEARISH | 10/18/24 | $15.3 | $15.25 | $15.3 | $135.00 | $122.4K | 545 | 80 |
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.
After a thorough review of the options trading surrounding Snowflake, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Snowflake
- With a volume of 4,195,166, the price of SNOW is up 1.11% at $128.47.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 days.
Expert Opinions on Snowflake
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $145.0.
- Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Snowflake with a target price of $160.
- In a cautious move, an analyst from Wells Fargo downgraded its rating to Equal-Weight, setting a price target of $130.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snowflake with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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