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 12 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $714,864 and 2, calls, for a total amount of $337,500.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $165.0 for Snowflake over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snowflake's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snowflake's significant trades, within a strike price range of $110.0 to $165.0, over the past month.
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 | CALL | TRADE | BEARISH | 01/19/24 | $125.00 | $300.0K | 167 | 0 |
| SNOW | PUT | TRADE | BEARISH | 11/17/23 | $160.00 | $175.5K | 3.2K | 383 |
| SNOW | PUT | SWEEP | BULLISH | 11/24/23 | $155.00 | $123.3K | 378 | 527 |
| SNOW | PUT | SWEEP | BEARISH | 12/01/23 | $145.00 | $103.7K | 436 | 262 |
| SNOW | PUT | SWEEP | BEARISH | 11/17/23 | $160.00 | $83.0K | 3.2K | 294 |
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.
In light of the recent options history for Snowflake, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Snowflake
- With a trading volume of 1,151,612, the price of SNOW is down by -1.11%, reaching $158.62.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 16 days from now.
Professional Analyst Ratings for Snowflake
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $195.0.
- An analyst from Capital One upgraded its action to Overweight with a price target of $195.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Snowflake with a target price 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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