Looking At Snowflake's Recent Unusual Options Activity

Deep-pocketed investors have adopted a bullish approach towards Snowflake SNOW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNOW usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 42 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 47% leaning bullish and 42% bearish. Among these notable options, 19 are puts, totaling $2,170,719, and 23 are calls, amounting to $1,650,959.

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 $70.0 to $260.0 for Snowflake during the past quarter.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Snowflake's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snowflake's whale trades within a strike price range from $70.0 to $260.0 in the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
SNOW PUT TRADE BULLISH 01/16/26 $16.85 $16.25 $16.35 $110.00 $1.3M 129 800
SNOW CALL SWEEP BEARISH 06/20/25 $5.6 $5.55 $5.58 $230.00 $408.7K 438 730
SNOW PUT TRADE BULLISH 12/20/24 $10.7 $10.55 $10.6 $120.00 $212.0K 1.1K 202
SNOW CALL TRADE NEUTRAL 06/21/24 $2.83 $2.7 $2.76 $135.00 $138.0K 2.4K 1.5K
SNOW CALL SWEEP BULLISH 01/17/25 $19.0 $18.6 $19.0 $135.00 $108.3K 591 67

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.

Current Position of Snowflake

  • With a volume of 2,640,487, the price of SNOW is down -1.08% at $130.61.
  • RSI indicators hint that the underlying stock may be oversold.
  • Next earnings are expected to be released in 75 days.

Professional Analyst Ratings for Snowflake

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $202.0.

  • An analyst from Oppenheimer persists with their Outperform rating on Snowflake, maintaining a target price of $220.
  • An analyst from Baird persists with their Outperform rating on Snowflake, maintaining a target price of $200.
  • An analyst from JP Morgan persists with their Overweight rating on Snowflake, maintaining a target price of $185.
  • Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Snowflake with a target price of $195.
  • An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $210.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Snowflake with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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