A whale with a lot of money to spend has taken a noticeably bullish stance on Snowflake.
Looking at options history for Snowflake SNOW we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 70% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $865,000 and 7, calls, for a total amount of $299,249.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $175.0 for Snowflake over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Snowflake stands at 1034.5, with a total volume reaching 769.00. 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 $120.0 to $175.0, throughout the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BULLISH | 01/17/25 | $150.00 | $754.5K | 373 | 0 |
| SNOW | CALL | TRADE | BULLISH | 11/24/23 | $140.00 | $74.3K | 140 | 0 |
| SNOW | PUT | SWEEP | BEARISH | 11/10/23 | $160.00 | $58.5K | 2.0K | 13 |
| SNOW | CALL | SWEEP | BULLISH | 11/17/23 | $155.00 | $57.9K | 2.1K | 10 |
| SNOW | PUT | SWEEP | BEARISH | 01/17/25 | $120.00 | $52.0K | 688 | 80 |
Current Position of Snowflake
- Currently trading with a volume of 1,735,115, the SNOW's price has up by 0.39%, now at $160.2. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 21 days.
Professional Analyst Ratings for Snowflake:
- B of A Securities has revised its rating downward to Neutral, adjusting the price target to $195.
- In a positive move, Capital One has upgraded their rating to Overweight and adjusted the price target to $195.
- Piper Sandler has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $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.
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