Whales with a lot of money to spend have taken a noticeably bearish stance on Snowflake.
Looking at options history for Snowflake SNOW we detected 21 trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $613,180 and 18, calls, for a total amount of $963,628.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 and $290.0 for Snowflake, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $100.0 to $290.0 in the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BEARISH | 01/17/25 | $100.00 | $553.0K | 2.1K | 1.4K |
| SNOW | CALL | SWEEP | BEARISH | 05/17/24 | $130.00 | $306.5K | 14 | 100 |
| SNOW | CALL | SWEEP | BEARISH | 06/21/24 | $290.00 | $71.0K | 477 | 777 |
| SNOW | CALL | TRADE | BULLISH | 01/16/26 | $160.00 | $69.2K | 35 | 10 |
| SNOW | CALL | SWEEP | BEARISH | 06/21/24 | $290.00 | $63.9K | 477 | 346 |
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.
Current Position of Snowflake
- With a volume of 2,205,595, the price of SNOW is down -2.13% at $184.29.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 85 days.
What The Experts Say On Snowflake
In the last month, 5 experts released ratings on this stock with an average target price of $212.2.
- An analyst from Raymond James persists with their Outperform rating on Snowflake, maintaining a target price of $190.
- An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Snowflake, which currently sits at a price target of $226.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Snowflake, targeting a price of $235.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Snowflake, targeting a price of $200.
- An analyst from Truist Securities has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $210.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Snowflake, Benzinga Pro gives you real-time options trades alerts.
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