Looking At Snowflake's Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bearish stance on Snowflake.

Looking at options history for Snowflake SNOW we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $237,651 and 4, calls, for a total amount of $303,990.

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 $120.0 to $180.0 for Snowflake over the last 3 months.

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 $120.0 to $180.0 in the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW CALL TRADE BEARISH 07/15/22 $120.00 $111.5K 423 0
SNOW CALL TRADE BULLISH 01/20/23 $150.00 $109.8K 926 40
SNOW PUT TRADE NEUTRAL 09/16/22 $120.00 $61.8K 379 60
SNOW CALL TRADE BEARISH 08/19/22 $180.00 $49.0K 1.9K 11
SNOW PUT TRADE NEUTRAL 08/19/22 $130.00 $47.4K 745 56

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW CALL TRADE BEARISH 07/15/22 $120.00 $111.5K 423 0
SNOW CALL TRADE BULLISH 01/20/23 $150.00 $109.8K 926 40
SNOW PUT TRADE NEUTRAL 09/16/22 $120.00 $61.8K 379 60
SNOW CALL TRADE BEARISH 08/19/22 $180.00 $49.0K 1.9K 11
SNOW PUT TRADE NEUTRAL 08/19/22 $130.00 $47.4K 745 56

Where Is Snowflake Standing Right Now?

  • With a volume of 446,073, the price of SNOW is up 2.55% at $142.61.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 54 days.

What The Experts Say On Snowflake:

  • JP Morgan has decided to maintain their Neutral rating on Snowflake, which currently sits at a price target of $165.
  • Raymond James downgraded its action to Outperform with a price target of $184
  • JP Morgan upgraded its action to Overweight with a price target of $165
  • Canaccord Genuity upgraded its action to Buy with a price target of $185
  • Jefferies upgraded its action to Buy with a price target of $200

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Snowflake, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets

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