Snowflake Unusual Options Activity

Deep-pocketed investors have adopted a bearish 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 21 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 28% leaning bullish and 71% bearish. Among these notable options, 6 are puts, totaling $382,078, and 15 are calls, amounting to $702,130.

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 $160.0 to $300.0 for Snowflake during the past quarter.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Snowflake stands at 1352.06, with a total volume reaching 6,194.00. 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 $160.0 to $300.0, throughout the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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

Where Is Snowflake Standing Right Now?

• Currently trading with a volume of 1,736,525, the SNOW's price is up by 0.87%, now at $190.77.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 51 days.

What The Experts Say On Snowflake

In the last month, 5 experts released ratings on this stock with an average target price of $219.0.

• Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Snowflake with a target price of $250.
• Maintaining their stance, an analyst from TD Cowen continues to hold a Outperform rating for Snowflake, targeting a price of $230.
• An analyst from RBC Capital downgraded its action to Outperform with a price target of $230.
• An analyst from Needham downgraded its action to Buy with a price target of $225.
• Reflecting concerns, an analyst from Monness, Crespi, Hardt lowers its rating to Sell with a new price target of $160.

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.