High-rolling investors have positioned themselves bullish on Snowflake SNOW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SNOW often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Snowflake. This is not a typical pattern.
The sentiment among these major traders is split, with 69% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $35,100, and 12 calls, totaling $516,100.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $111.0 to $135.0 for Snowflake over the recent three months.
Insights into Volume & Open Interest
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 $111.0 to $135.0, over the past month.
Snowflake Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BULLISH | 09/27/24 | $3.95 | $2.99 | $3.61 | $111.00 | $90.2K | 1.3K | 261 |
| SNOW | CALL | SWEEP | BEARISH | 09/27/24 | $4.5 | $4.35 | $4.35 | $111.00 | $53.0K | 1.3K | 751 |
| SNOW | CALL | SWEEP | BULLISH | 12/20/24 | $5.05 | $4.95 | $5.05 | $135.00 | $50.5K | 1.4K | 207 |
| SNOW | CALL | SWEEP | BULLISH | 12/20/24 | $5.1 | $4.95 | $5.05 | $135.00 | $50.4K | 1.4K | 107 |
| SNOW | CALL | TRADE | BEARISH | 10/11/24 | $4.3 | $4.25 | $4.25 | $115.00 | $42.5K | 337 | 111 |
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?
- Trading volume stands at 10,539,416, with SNOW's price up by 2.43%, positioned at $115.23.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 63 days.
What The Experts Say On Snowflake
In the last month, 1 experts released ratings on this stock with an average target price of $125.0.
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. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Snowflake with a target price of $125.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
