Investors with a lot of money to spend have taken a bullish stance on Snowflake SNOW.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNOW, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 32 uncommon options trades for Snowflake.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 40%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $731,670, and 27 are calls, for a total amount of $1,202,852.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $160.0 for Snowflake over the last 3 months.
Analyzing 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 $85.0 to $160.0, over the past month.
Snowflake Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BEARISH | 06/20/25 | $5.7 | $5.55 | $5.7 | $85.00 | $370.5K | 2.6K | 650 |
| SNOW | PUT | SWEEP | BULLISH | 01/17/25 | $7.9 | $7.8 | $7.8 | $110.00 | $156.0K | 3.8K | 214 |
| SNOW | PUT | SWEEP | BEARISH | 05/16/25 | $6.9 | $6.75 | $6.9 | $95.00 | $104.8K | 14 | 153 |
| SNOW | CALL | SWEEP | BULLISH | 10/18/24 | $0.77 | $0.76 | $0.77 | $125.00 | $80.4K | 5.8K | 1.3K |
| SNOW | CALL | SWEEP | BULLISH | 10/11/24 | $1.4 | $1.32 | $1.39 | $120.00 | $72.6K | 5.0K | 8.1K |
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.
Current Position of Snowflake
- Currently trading with a volume of 4,881,211, the SNOW's price is up by 5.33%, now at $119.58.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 49 days.
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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.
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