Financial giants have made a conspicuous bearish move on Snowflake. Our analysis of options history for Snowflake SNOW revealed 21 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 11 were puts, with a value of $692,380, and 10 were calls, valued at $589,943.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $135.0 to $250.0 for Snowflake during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Snowflake stands at 970.35, with a total volume reaching 1,905.00. 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 $135.0 to $250.0, throughout the last 30 days.
Snowflake Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BULLISH | 09/20/24 | $200.00 | $140.0K | 92 | 52 |
| SNOW | PUT | TRADE | BEARISH | 02/16/24 | $200.00 | $104.0K | 912 | 0 |
| SNOW | PUT | TRADE | BEARISH | 02/16/24 | $190.00 | $99.0K | 568 | 121 |
| SNOW | PUT | SWEEP | BULLISH | 01/19/24 | $197.50 | $95.0K | 231 | 104 |
| SNOW | CALL | TRADE | BEARISH | 01/17/25 | $250.00 | $91.5K | 845 | 51 |
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.
Current Position of Snowflake
- With a volume of 2,326,360, the price of SNOW is down -2.16% at $194.7.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 57 days.
Professional Analyst Ratings for Snowflake
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $240.0.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on Snowflake with a target price of $230.
- An analyst from Piper Sandler has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $250.
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.
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