Financial giants have made a conspicuous bearish move on Snowflake. Our analysis of options history for Snowflake SNOW revealed 15 unusual trades.
Delving into the details, we found 40% of traders were bullish, while 60% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $612,263, and 8 were calls, valued at $429,520.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $140.0 and $280.0 for Snowflake, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $140.0 to $280.0 in the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | SWEEP | BULLISH | 12/01/23 | $150.00 | $168.2K | 1.6K | 4 |
| SNOW | PUT | SWEEP | BULLISH | 12/01/23 | $145.00 | $153.2K | 9.0K | 1.3K |
| SNOW | CALL | SWEEP | BEARISH | 06/21/24 | $200.00 | $129.3K | 1.0K | 0 |
| SNOW | PUT | SWEEP | BEARISH | 12/01/23 | $145.00 | $120.9K | 9.0K | 2.5K |
| SNOW | CALL | SWEEP | BEARISH | 12/15/23 | $140.00 | $54.7K | 1.5K | 0 |
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.
After a thorough review of the options trading surrounding Snowflake, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Snowflake
- Currently trading with a volume of 1,017,825, the SNOW's price is up by 0.02%, now at $161.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 12 days.
What The Experts Say On Snowflake
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $195.0.
- An analyst from Piper Sandler persists with their Overweight rating on Snowflake, maintaining a target price of $195.
- An analyst from Capital One has elevated its stance to Overweight, setting a new price target at $195.
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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