Deep-pocketed investors have adopted a bearish approach towards Snowflake (NYSE: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 30 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 43% bearish. Among these notable options, 16 are puts, totaling $734,930, and 14 are calls, amounting to $606,623.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $170.0 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 1099.0, with a total volume reaching 5,025.00. 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 $85.0 to $170.0, throughout the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

About Snowflake

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 trading volume of 3,194,958, the price of SNOW is down by -3.42%, reaching $111.59.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 91 days from now.

What The Experts Say On Snowflake

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $160.0.

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.