Investors with a lot of money to spend have taken a bullish stance on Snowflake SNOW.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNOW, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 37 uncommon options trades for Snowflake.
This isn't normal.
The overall sentiment of these big-money traders is split between 59% bullish and 40%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $445,678, and 29 are calls, for a total amount of $2,169,511.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $250.0 for Snowflake during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snowflake's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snowflake's substantial trades, within a strike price spectrum from $100.0 to $250.0 over the preceding 30 days.
Snowflake 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BULLISH | 06/20/25 | $34.5 | $34.05 | $34.5 | $160.00 | $610.6K | 69 | 182 |
| SNOW | CALL | TRADE | NEUTRAL | 06/21/24 | $57.45 | $55.35 | $56.4 | $100.00 | $282.0K | 161 | 50 |
| SNOW | CALL | SWEEP | BEARISH | 01/17/25 | $5.65 | $5.55 | $5.55 | $250.00 | $138.7K | 2.0K | 87 |
| SNOW | PUT | SWEEP | BEARISH | 01/17/25 | $28.65 | $28.6 | $28.65 | $165.00 | $117.4K | 636 | 52 |
| SNOW | CALL | TRADE | BULLISH | 12/20/24 | $32.85 | $32.1 | $32.6 | $145.00 | $107.5K | 55 | 46 |
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.
Following our analysis of the options activities associated with Snowflake, we pivot to a closer look at the company's own performance.
Where Is Snowflake Standing Right Now?
- Trading volume stands at 4,998,697, with SNOW's price up by 1.67%, positioned at $153.86.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 47 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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