Snowflake Unusual Options Activity

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 17 trades.

If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $629,673 and 8, calls, for a total amount of $576,590.

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 $130.0 to $240.0 for Snowflake during the past quarter.

Volume & Open Interest Development

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 $130.0 to $240.0 in the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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 1,613,086, the price of SNOW is up by 0.54%, reaching $157.82.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 65 days from now.

Expert Opinions on Snowflake

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $224.0.

• An analyst from Citigroup has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $240.
• An analyst from Needham has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $240.
• An analyst from JP Morgan has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $170.
• Showing optimism, an analyst from Macquarie upgrades its rating to Outperform with a revised price target of $205.
• Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Snowflake with a target price of $265.

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.