Check Out What Whales Are Doing With SNOW

Investors with a lot of money to spend have taken a bullish stance on Snowflake SNOW.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNOW, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 51 uncommon options trades for Snowflake.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 31%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $513,300, and 40 are calls, for a total amount of $2,544,857.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $120.0 to $300.0 for Snowflake over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $120.0 to $300.0 in the last 30 days.

Snowflake 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Snowflake

Founded in 2012, Snowflake is a fully managed platform that consolidates data hosted on different public clouds for centralized analytics and governance. Snowflake's cloud-native architecture allows users to independently scale the compute and storage layers, providing customers with optimized performance at lower costs. The company's data lake and data warehouse products support a variety of use cases, including business analytics, data engineering, and artificial intelligence. Snowflake is widely used by Fortune 2000 companies in financial services, media, and retail sectors.

Following our analysis of the options activities associated with Snowflake, we pivot to a closer look at the company's own performance.

Where Is Snowflake Standing Right Now?

• Currently trading with a volume of 4,164,628, the SNOW's price is up by 2.14%, now at $225.0.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 20 days.

What Analysts Are Saying About Snowflake

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $260.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from JMP Securities keeps a Market Outperform rating on Snowflake with a target price of $260. * In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $261.

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.