A Closer Look at Snowflake's Options Market Dynamics

Financial giants have made a conspicuous bullish move on Snowflake. Our analysis of options history for Snowflake SNOW revealed 24 unusual trades.

Delving into the details, we found 41% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $1,143,818, and 9 were calls, valued at $491,931.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $115.0 to $270.0 for Snowflake during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Snowflake stands at 1003.67, with a total volume reaching 2,915.00. 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 $115.0 to $270.0, throughout the last 30 days.

Snowflake Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

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

• Currently trading with a volume of 1,407,391, the SNOW's price is up by 3.79%, now at $155.5.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 68 days.

What The Experts Say On Snowflake

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $217.8.

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 RBC Capital keeps a Outperform rating on Snowflake with a target price of $221. * An analyst from Cantor Fitzgerald persists with their Overweight rating on Snowflake, maintaining a target price of $228. * Consistent in their evaluation, an analyst from Loop Capital keeps a Buy rating on Snowflake with a target price of $215. * An analyst from Canaccord Genuity has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $220. * An analyst from Rosenblatt persists with their Buy rating on Snowflake, maintaining a target price of $205.

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.