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 10 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 40% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $259,648 and 3, calls, for a total amount of $138,360.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $140.0 for Snowflake during the past quarter.
Analyzing 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 $85.0 to $140.0 in the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
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 | BEARISH | 10/18/24 | $8.95 | $8.85 | $8.85 | $140.00 | $83.1K | 597 | 99 |
| SNOW | PUT | SWEEP | BEARISH | 03/21/25 | $3.7 | $3.6 | $3.7 | $85.00 | $69.2K | 51 | 188 |
| SNOW | PUT | TRADE | BEARISH | 01/16/26 | $24.8 | $24.3 | $24.8 | $125.00 | $37.2K | 964 | 23 |
| SNOW | PUT | TRADE | BULLISH | 08/02/24 | $7.3 | $6.8 | $7.0 | $135.00 | $33.6K | 856 | 297 |
| SNOW | PUT | TRADE | BULLISH | 12/18/26 | $22.75 | $22.25 | $22.25 | $110.00 | $33.3K | 4 | 19 |
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.
Having examined the options trading patterns of Snowflake, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Snowflake
- With a trading volume of 522,961, the price of SNOW is down by -0.03%, reaching $128.96.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 23 days from now.
Professional Analyst Ratings for Snowflake
3 market experts have recently issued ratings for this stock, with a consensus target price of $198.33333333333334.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Snowflake with a target price of $220.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $210.
- An analyst from Piper Sandler persists with their Overweight rating on Snowflake, maintaining a target price of $165.
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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