Deep-pocketed investors have adopted a bearish 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 14 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 35% leaning bullish and 42% bearish. Among these notable options, 4 are puts, totaling $177,167, and 10 are calls, amounting to $773,215.
Projected Price Targets
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 $190.0 for Snowflake, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $85.0 to $190.0 in the last 30 days.
Snowflake 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | NEUTRAL | 11/15/24 | $4.25 | $4.15 | $4.2 | $120.00 | $210.0K | 2.9K | 737 |
| SNOW | CALL | TRADE | BEARISH | 12/20/24 | $12.0 | $11.9 | $11.91 | $110.00 | $178.6K | 714 | 457 |
| SNOW | CALL | SWEEP | NEUTRAL | 01/17/25 | $11.05 | $11.0 | $11.05 | $115.00 | $110.5K | 840 | 101 |
| SNOW | PUT | SWEEP | BEARISH | 06/20/25 | $6.45 | $6.3 | $6.45 | $85.00 | $76.7K | 2.4K | 119 |
| SNOW | CALL | TRADE | BULLISH | 12/20/24 | $11.5 | $11.35 | $11.5 | $110.00 | $57.5K | 714 | 164 |
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
Snowflake's Current Market Status
- With a trading volume of 6,314,299, the price of SNOW is down by -3.11%, reaching $110.47.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 68 days from now.
What Analysts Are Saying About Snowflake
In the last month, 5 experts released ratings on this stock with an average target price of $168.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Snowflake, targeting a price of $180. * Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for Snowflake, targeting a price of $190. * In a positive move, an analyst from HSBC has upgraded their rating to Hold and adjusted the price target to $121. * An analyst from Needham has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $160. * Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Snowflake, targeting a price of $190.
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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