Looking At Snowflake's Recent Unusual Options Activity

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 40% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $429,007 and 6, calls, for a total amount of $1,817,110.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $220.0 for Snowflake over the last 3 months.

Volume & Open Interest Development

In today’s trading context, the average open interest for options of Snowflake stands at 1199.1, with a total volume reaching 884.00. 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 $75.0 to $220.0, throughout the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

In light of the recent options history for Snowflake, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Snowflake’s Current Market Status

• With a trading volume of 5,891,638, the price of SNOW is up by 4.32%, reaching $156.0.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 49 days from now.

What The Experts Say On Snowflake

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $198.75.

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* An analyst from Jefferies has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $190.
* Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Snowflake, targeting a price of $210.
* In a cautious move, an analyst from Macquarie downgraded its rating to Neutral, setting a price target of $160.
* An analyst from Citigroup persists with their Buy rating on Snowflake, maintaining a target price of $235.

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.