Whales with a lot of money to spend have taken a noticeably bullish stance on Snowflake.
Looking at options history for Snowflake SNOW we detected 14 trades.
If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $403,106 and 5, calls, for a total amount of $261,505.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $250.0 for Snowflake over the recent three months.
Volume & Open Interest Development
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 $120.0 to $250.0 in the last 30 days.
Snowflake Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | SWEEP | BEARISH | 06/21/24 | $200.00 | $141.7K | 1.2K | 0 |
| SNOW | PUT | SWEEP | NEUTRAL | 11/24/23 | $165.00 | $96.0K | 897 | 1 |
| SNOW | PUT | SWEEP | BULLISH | 12/15/23 | $200.00 | $71.0K | 0 | 10 |
| SNOW | PUT | SWEEP | BULLISH | 06/20/25 | $120.00 | $54.2K | 56 | 29 |
| SNOW | CALL | SWEEP | BEARISH | 01/17/25 | $250.00 | $39.4K | 583 | 31 |
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.
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
Current Position of Snowflake
- With a volume of 1,887,279, the price of SNOW is down -1.46% at $164.3.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 8 days.
What Analysts Are Saying About Snowflake
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $195.0.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Snowflake, targeting a 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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