Snowflake Options Trading: A Deep Dive into Market Sentiment

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 11 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 45% bearish. Among these notable options, 3 are puts, totaling $143,086, and 8 are calls, amounting to $297,235.

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 $170.0 to $220.0 for Snowflake during the past quarter.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snowflake's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snowflake's substantial trades, within a strike price spectrum from $170.0 to $220.0 over the preceding 30 days.

Snowflake Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Snowflake

Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that went public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500. 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 buy and ingest data, while its data solutions 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.

Snowflake's Current Market Status

• With a volume of 1,238,366, the price of SNOW is up 1.64% at $180.0.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 79 days.

What Analysts Are Saying About Snowflake

In the last month, 5 experts released ratings on this stock with an average target price of $222.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $225. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Snowflake with a target price of $230. * An analyst from Canaccord Genuity persists with their Buy rating on Snowflake, maintaining a target price of $220. * Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Snowflake with a target price of $215. * An analyst from Keybanc persists with their Overweight rating on Snowflake, maintaining a target price of $220.

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.