Market Whales and Their Recent Bets on SNOW Options

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 8 uncommon options trades for Snowflake.

This isn’t normal.

The overall sentiment of these big-money traders is split between 62% bullish and 37%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $338,074, and 6 are calls, for a total amount of $506,524.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $115.0 to $200.0 for Snowflake over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Snowflake options trades today is 2267.86 with a total volume of 660.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Snowflake’s big money trades within a strike price range of $115.0 to $200.0 over the last 30 days.

Snowflake Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

After a thorough review of the options trading surrounding Snowflake, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Snowflake

• With a volume of 1,036,605, the price of SNOW is down -2.21% at $169.82.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 78 days.

Professional Analyst Ratings for Snowflake

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $211.0.

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* An analyst from Rosenblatt persists with their Buy rating on Snowflake, maintaining a target price of $205.
* Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Snowflake, targeting a price of $205.
* 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 Keybanc continues to hold a Overweight rating for Snowflake, targeting a price of $220.
* An analyst from Truist Securities downgraded its action to Buy with a price target of $225.

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.