Decoding Snowflake's Options Activity: What's the Big Picture?

Investors with a lot of money to spend have taken a bearish 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 13 uncommon options trades for Snowflake.

This isn't normal.

The overall sentiment of these big-money traders is split between 15% bullish and 69%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $156,007, and 10 are calls, for a total amount of $601,682.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $170.0 to $200.0 for Snowflake over the recent three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Snowflake stands at 1583.22, with a total volume reaching 993.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Snowflake, situated within the strike price corridor from $170.0 to $200.0, throughout the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Snowflake

Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that went public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500. 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 buy and ingest data, while its data solutions can be hosted on various public clouds.

Snowflake's Current Market Status

• With a trading volume of 143,729, the price of SNOW is down by -1.4%, reaching $168.52.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 1 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 $212.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Snowflake, which currently sits at a price target of $200. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Snowflake, targeting a price of $230. * An analyst from Mizuho persists with their Outperform rating on Snowflake, maintaining a target price of $205. * Showing optimism, an analyst from Wolfe Research upgrades its rating to Outperform with a revised price target of $235. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Snowflake, targeting a price of $190.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snowflake options trades with real-time alerts from Benzinga Pro.