Investors with a lot of money to spend have taken a bearish 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 24 uncommon options trades for Snowflake.
This isn't normal.
The overall sentiment of these big-money traders is split between 29% bullish and 70%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $53,282, and 22 are calls, for a total amount of $4,532,552.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $125.0 to $200.0 for Snowflake during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Snowflake's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Snowflake's substantial trades, within a strike price spectrum from $125.0 to $200.0 over the preceding 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BEARISH | 01/17/25 | $170.00 | $467.4K | 3.7K | 774 |
| SNOW | CALL | TRADE | BEARISH | 01/17/25 | $170.00 | $412.8K | 3.7K | 105 |
| SNOW | CALL | TRADE | BEARISH | 01/17/25 | $170.00 | $408.0K | 3.7K | 285 |
| SNOW | CALL | TRADE | BEARISH | 01/17/25 | $170.00 | $391.5K | 3.7K | 485 |
| SNOW | CALL | TRADE | BEARISH | 01/17/25 | $170.00 | $390.0K | 3.7K | 285 |
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.
In light of the recent options history for Snowflake, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Snowflake
- With a trading volume of 1,125,355, the price of SNOW is down by -0.09%, reaching $171.0.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 2 days from now.
Expert Opinions on Snowflake
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $195.0.
- In a positive move, an analyst from Capital One has upgraded their rating to Overweight and adjusted the price target to $195.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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