27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
A whale with a lot of money to spend has taken a noticeably bullish stance on Snowflake.
Looking at options history for Snowflake (NYSE:SNOW) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 70% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $865,000 and 7, calls, for a total amount of $299,249.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $175.0 for Snowflake over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Snowflake stands at 1034.5, with a total volume reaching 769.00. 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 $120.0 to $175.0, throughout the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BULLISH | 01/17/25 | $150.00 | $754.5K | 373 | 0 |
| SNOW | CALL | TRADE | BULLISH | 11/24/23 | $140.00 | $74.3K | 140 | 0 |
| SNOW | PUT | SWEEP | BEARISH | 11/10/23 | $160.00 | $58.5K | 2.0K | 13 |
| SNOW | CALL | SWEEP | BULLISH | 11/17/23 | $155.00 | $57.9K | 2.1K | 10 |
| SNOW | PUT | SWEEP | BEARISH | 01/17/25 | $120.00 | $52.0K | 688 | 80 |
Current Position of Snowflake
- Currently trading with a volume of 1,735,115, the SNOW's price has up by 0.39%, now at $160.2. RSI readings suggest the stock is currently may be approaching overbought. Anticipated earnings release is in 21 days.
Professional Analyst Ratings for Snowflake:
- B of A Securities has revised its rating downward to Neutral, adjusting the price target to $195.
- In a positive move, Capital One has upgraded their rating to Overweight and adjusted the price target to $195.
- Piper Sandler has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $195.
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.
27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
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