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.
Whales with a lot of money to spend have taken a noticeably bullish stance on Snowflake.
Looking at options history for Snowflake (NYSE:SNOW) we detected 46 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 23 are puts, for a total amount of $1,451,282 and 23, calls, for a total amount of $965,956.
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 $100.0 to $250.0 for Snowflake over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snowflake's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snowflake's significant trades, within a strike price range of $100.0 to $250.0, over the past month.
Snowflake Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | SWEEP | BULLISH | 01/17/25 | $26.55 | $26.5 | $26.5 | $160.00 | $212.0K | 960 | 38 |
| SNOW | PUT | TRADE | BULLISH | 05/17/24 | $19.6 | $19.5 | $19.5 | $170.00 | $130.6K | 724 | 72 |
| SNOW | CALL | SWEEP | BEARISH | 09/20/24 | $13.05 | $12.3 | $12.4 | $175.00 | $117.8K | 170 | 95 |
| SNOW | PUT | SWEEP | BEARISH | 01/17/25 | $29.5 | $29.35 | $29.5 | $165.00 | $94.4K | 723 | 7 |
| SNOW | PUT | TRADE | BEARISH | 12/20/24 | $8.6 | $8.6 | $8.6 | $120.00 | $86.0K | 949 | 100 |
About Snowflake
Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. 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 easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.
Following our analysis of the options activities associated with Snowflake, we pivot to a closer look at the company's own performance.
Snowflake's Current Market Status
- Currently trading with a volume of 3,574,919, the SNOW's price is down by -1.98%, now at $152.5.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 42 days.
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.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!