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

Financial giants have made a conspicuous bearish move on Snowflake. Our analysis of options history for Snowflake SNOW revealed 28 unusual trades.

Delving into the details, we found 39% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $247,890, and 21 were calls, valued at $958,631.

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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 $150.0 to $280.0 for Snowflake during the past quarter.

Volume & Open Interest Trends

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 $150.0 to $280.0 over the preceding 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Snowflake

Founded in 2012, Snowflake is a fully managed platform that consolidates data hosted on different public clouds for centralized analytics and governance. Snowflake's cloud-native architecture allows users to independently scale the compute and storage layers, providing customers with optimized performance at lower costs. The company's data lake and data warehouse products support a variety of use cases, including business analytics, data engineering, and artificial intelligence. Snowflake is widely used by Fortune 2000 companies in financial services, media, and retail sectors.

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 9,489,974, the price of SNOW is down by -0.9%, reaching $201.36.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 89 days from now.

Professional Analyst Ratings for Snowflake

5 market experts have recently issued ratings for this stock, with a consensus target price of $216.6.

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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. * Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Snowflake with a target price of $232. * Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Snowflake, targeting a price of $225. * An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $201. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Snowflake, targeting a price of $210. * An analyst from Baird has decided to maintain their Outperform rating on Snowflake, which currently sits at a price target of $215.

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.