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 28 trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 32% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $260,000 and 26, calls, for a total amount of $1,484,825.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $200.0 for Snowflake, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $95.0 to $200.0 in the last 30 days.
Snowflake Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | SWEEP | BULLISH | 03/21/25 | $21.95 | $21.75 | $21.95 | $140.00 | $219.5K | 27 | 0 |
| SNOW | CALL | TRADE | BEARISH | 12/20/24 | $39.15 | $37.85 | $38.0 | $105.00 | $152.0K | 164 | 0 |
| SNOW | CALL | TRADE | NEUTRAL | 01/16/26 | $28.25 | $27.3 | $27.75 | $160.00 | $138.7K | 825 | 0 |
| SNOW | CALL | SWEEP | BULLISH | 03/21/25 | $18.35 | $18.05 | $18.35 | $150.00 | $110.1K | 368 | 3 |
| SNOW | CALL | TRADE | BULLISH | 06/20/25 | $9.85 | $9.85 | $9.85 | $200.00 | $98.5K | 772 | 158 |
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?
- With a trading volume of 2,888,434, the price of SNOW is up by 0.58%, reaching $134.7.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 54 days from now.
What The Experts Say 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 $207.6.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $235.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $200.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $210.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $210.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Snowflake, targeting a price of $183.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snowflake with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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