Snowflake Stock (NYSE:SNOW), Trade Ideas

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.

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This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$800.00</td>
<td>$122.8K</td>
<td>6.2K</td>
<td>50.1K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$130.00</td>
<td>$25.9K</td>
<td>1.6K</td>
<td>4.0K</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$700.00</td>
<td>$37.7K</td>
<td>1.7K</td>
<td>4.0K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$9.00</td>
<td>$26.5K</td>
<td>8.6K</td>
<td>2.6K</td>
</tr>
<tr>
<td>PLTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$23.00</td>
<td>$40.0K</td>
<td>19.4K</td>
<td>2.3K</td>
</tr>
<tr>
<td>MCHP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$90.00</td>
<td>$51.6K</td>
<td>1.7K</td>
<td>1.8K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$30.00</td>
<td>$46.6K</td>
<td>8.2K</td>
<td>1.4K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$410.00</td>
<td>$86.8K</td>
<td>4.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$152.50</td>
<td>$26.8K</td>
<td>709</td>
<td>1.0K</td>
</tr>
<tr>
<td>ORCL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$115.00</td>
<td>$31.0K</td>
<td>1.8K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bearish sentiment. It expires in 4 day(s) on April 26, 2024. Parties traded 77 contract(s) at a $800.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $122.8K, with a price of $1595.0 per contract. There were 6224 open contracts at this strike prior to today, and today 50175 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a call option sweep with bullish sentiment. It expires in 88 day(s) on July 19, 2024. Parties traded 28 contract(s) at a $130.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $25.9K, with a price of $925.0 per contract. There were 1686 open contracts at this strike prior to today, and today 4086 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a put option trade that happens to be neutral, expiring in 4 day(s) on April 26, 2024. This event was a transfer of 13 contract(s) at a $700.00 strike. The total cost received by the writing party (or parties) was $37.7K, with a price of $2905.0 per contract. There were 1702 open contracts at this strike prior to today, and today 4071 contract(s) were bought and sold. 
• For RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we notice a call option sweep that happens to be bearish, expiring in 4 day(s) on April 26, 2024. This event was a transfer of 150 contract(s) at a $9.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $177.0 per contract. There were 8670 open contracts at this strike prior to today, and today 2630 contract(s) were bought and sold. 
• For PLTR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), we notice a call option sweep that happens to be bearish, expiring in 25 day(s) on May 17, 2024. This event was a transfer of 460 contract(s) at a $23.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $40.0K, with a price of $87.0 per contract. There were 19464 open contracts at this strike prior to today, and today 2392 contract(s) were bought and sold. 
• For MCHP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>), we notice a call option sweep that happens to be bullish, expiring in 25 day(s) on May 17, 2024. This event was a transfer of 397 contract(s) at a $90.00 strike. This particular call needed to be split into 73 different trades to become filled. The total cost received by the writing party (or parties) was $51.6K, with a price of $130.0 per contract. There were 1760 open contracts at this strike prior to today, and today 1865 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option sweep that happens to be bullish, expiring in 151 day(s) on September 20, 2024. This event was a transfer of 200 contract(s) at a $30.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $46.6K, with a price of $233.0 per contract. There were 8254 open contracts at this strike prior to today, and today 1470 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option trade that happens to be neutral, expiring in 25 day(s) on May 17, 2024. This event was a transfer of 100 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $86.8K, with a price of $868.0 per contract. There were 4282 open contracts at this strike prior to today, and today 1118 contract(s) were bought and sold. 
• For SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on April 26, 2024. This event was a transfer of 200 contract(s) at a $152.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $26.8K, with a price of $134.0 per contract. There were 709 open contracts at this strike prior to today, and today 1086 contract(s) were bought and sold. 
• For ORCL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), we notice a call option sweep that happens to be bearish, expiring in 25 day(s) on May 17, 2024. This event was a transfer of 100 contract(s) at a $115.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $31.0K, with a price of $310.0 per contract. There were 1849 open contracts at this strike prior to today, and today 1030 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

MARA

MCHP

RIOT

SMCI

10 Information Technology Stocks Whale Activity In Today's Session

Investors with a lot of money to spend have taken a bearish stance on Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>).
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, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 11 uncommon options trades for Snowflake.
This isn't normal.
The overall sentiment of these big-money traders is split between 18% bullish and 81%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $253,126, and 7 are calls, for a total amount of $1,012,366.
<h3>Projected Price Targets</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $115.0 to $190.0 for Snowflake during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
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 $115.0 to $190.0 over the preceding 30 days.
<h3>Snowflake Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713793616_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/10/24</td>
<td>$4.75</td>
<td>$4.7</td>
<td>$4.75</td>
<td>$150.00</td>
<td>$440.5K</td>
<td style="text-align: right;">257</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$23.85</td>
<td>$22.55</td>
<td>$23.07</td>
<td>$130.00</td>
<td>$203.0K</td>
<td style="text-align: right;">407</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$3.8</td>
<td>$3.75</td>
<td>$3.8</td>
<td>$150.00</td>
<td>$180.4K</td>
<td style="text-align: right;">197</td>
<td style="text-align: right;">17</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$10.65</td>
<td>$9.2</td>
<td>$10.35</td>
<td>$155.00</td>
<td>$103.2K</td>
<td style="text-align: right;">343</td>
<td style="text-align: right;">108</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$47.9</td>
<td>$42.9</td>
<td>$45.29</td>
<td>$190.00</td>
<td>$63.4K</td>
<td style="text-align: right;">601</td>
<td style="text-align: right;">14</td>
</tr>
</tbody>
</table>

<h3>About Snowflake</h3>
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.
<h3>Current Position of Snowflake</h3>
<ul>
<li>Currently trading with a volume of 673,148, the SNOW's price is up by 0.28%, now at $145.85. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 30 days.</li>
</ul>
<h3>Professional Analyst Ratings for Snowflake</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $185.0.
<ul>
<li>In a positive move, an analyst from Rosenblatt has upgraded their rating to Buy and adjusted the price target to $185. </li>
<li>In a cautious move, an analyst from Keybanc downgraded its rating to Overweight, setting a price target of $185. </li>
</ul>
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 <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Markets

Snowflake Unusual Options Activity For April 22

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$800.00</td>
<td>$57.2K</td>
<td>23.6K</td>
<td>104.2K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$170.00</td>
<td>$49.4K</td>
<td>19.8K</td>
<td>30.3K</td>
</tr>
<tr>
<td>ARM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$95.00</td>
<td>$34.5K</td>
<td>1.9K</td>
<td>15.5K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$360.00</td>
<td>$54.5K</td>
<td>3.5K</td>
<td>7.0K</td>
</tr>
<tr>
<td>INTC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$35.00</td>
<td>$35.0K</td>
<td>12.8K</td>
<td>6.0K</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$800.00</td>
<td>$32.9K</td>
<td>655</td>
<td>4.0K</td>
</tr>
<tr>
<td>FTNT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$65.00</td>
<td>$70.0K</td>
<td>3.2K</td>
<td>2.2K</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$160.00</td>
<td>$50.7K</td>
<td>3.2K</td>
<td>2.0K</td>
</tr>
<tr>
<td>MARA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$17.00</td>
<td>$50.5K</td>
<td>1.1K</td>
<td>2.0K</td>
</tr>
<tr>
<td>TSM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$138.00</td>
<td>$26.1K</td>
<td>639</td>
<td>1.3K</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option sweep that happens to be bearish, is expiring today. Parties traded 176 contract(s) at a $800.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $57.2K, with a price of $325.0 per contract. There were 23657 open contracts at this strike prior to today, and today 104254 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on April 26, 2024. Parties traded 811 contract(s) at a $170.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $49.4K, with a price of $61.0 per contract. There were 19835 open contracts at this strike prior to today, and today 30300 contract(s) were bought and sold. 
• For ARM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 100 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $34.5K, with a price of $345.0 per contract. There were 1927 open contracts at this strike prior to today, and today 15520 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a call option trade that happens to be bullish, expiring in 973 day(s) on December 18, 2026. This event was a transfer of 5 contract(s) at a $360.00 strike. The total cost received by the writing party (or parties) was $54.5K, with a price of $10910.0 per contract. There were 3543 open contracts at this strike prior to today, and today 7000 contract(s) were bought and sold. 
• For INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we notice a put option sweep that happens to be bearish, is expiring today. Parties traded 1000 contract(s) at a $35.00 strike. This particular put needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $35.0 per contract. There were 12843 open contracts at this strike prior to today, and today 6098 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a put option sweep that happens to be bullish, expiring in 7 day(s) on April 26, 2024. This event was a transfer of 5 contract(s) at a $800.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $32.9K, with a price of $6594.0 per contract. There were 655 open contracts at this strike prior to today, and today 4017 contract(s) were bought and sold. 
• For FTNT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>), we notice a put option sweep that happens to be bearish, expiring in 28 day(s) on May 17, 2024. This event was a transfer of 149 contract(s) at a $65.00 strike. This particular put needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $70.0K, with a price of $470.0 per contract. There were 3257 open contracts at this strike prior to today, and today 2207 contract(s) were bought and sold. 
• Regarding SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on April 26, 2024. Parties traded 1154 contract(s) at a $160.00 strike. This particular call needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $50.7K, with a price of $43.0 per contract. There were 3211 open contracts at this strike prior to today, and today 2085 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a call option trade that happens to be bullish, expiring in 14 day(s) on May 3, 2024. This event was a transfer of 395 contract(s) at a $17.00 strike. The total cost received by the writing party (or parties) was $50.5K, with a price of $128.0 per contract. There were 1134 open contracts at this strike prior to today, and today 2062 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on April 26, 2024. Parties traded 1045 contract(s) at a $138.00 strike. This particular call needed to be split into 36 different trades to become filled. The total cost received by the writing party (or parties) was $26.1K, with a price of $25.0 per contract. There were 639 open contracts at this strike prior to today, and today 1303 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AAPL

FTNT

INTC

10 Information Technology Stocks With Whale Alerts In Today's Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$850.00</td>
<td>$32.8K</td>
<td>10.8K</td>
<td>50.6K</td>
</tr>
<tr>
<td>MRVL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$72.50</td>
<td>$185.7K</td>
<td>13.3K</td>
<td>10.7K</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$165.00</td>
<td>$113.5K</td>
<td>7.7K</td>
<td>6.2K</td>
</tr>
<tr>
<td>BSY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$50.00</td>
<td>$26.4K</td>
<td>4.0K</td>
<td>3.5K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$990.00</td>
<td>$144.8K</td>
<td>642</td>
<td>1.2K</td>
</tr>
<tr>
<td>TSM</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$135.00</td>
<td>$49.0K</td>
<td>1.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$275.00</td>
<td>$46.5K</td>
<td>821</td>
<td>459</td>
</tr>
<tr>
<td>AKAM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$100.00</td>
<td>$39.7K</td>
<td>3.1K</td>
<td>437</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$125.00</td>
<td>$55.4K</td>
<td>3.4K</td>
<td>235</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$1250.00</td>
<td>$240.0K</td>
<td>465</td>
<td>209</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on April 19, 2024. Parties traded 45 contract(s) at a $850.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $32.8K, with a price of $730.0 per contract. There were 10827 open contracts at this strike prior to today, and today 50621 contract(s) were bought and sold. 
• Regarding MRVL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), we observe a call option sweep with bullish sentiment. It expires in 92 day(s) on July 19, 2024. Parties traded 509 contract(s) at a $72.50 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $185.7K, with a price of $365.0 per contract. There were 13399 open contracts at this strike prior to today, and today 10774 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a put option sweep with bearish sentiment. It expires in 8 day(s) on April 26, 2024. Parties traded 700 contract(s) at a $165.00 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $113.5K, with a price of $163.0 per contract. There were 7711 open contracts at this strike prior to today, and today 6283 contract(s) were bought and sold. 
• For BSY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on May 17, 2024. This event was a transfer of 60 contract(s) at a $50.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $440.0 per contract. There were 4040 open contracts at this strike prior to today, and today 3536 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option sweep that happens to be bearish, expiring in 1 day(s) on April 19, 2024. This event was a transfer of 181 contract(s) at a $990.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $144.8K, with a price of $800.0 per contract. There were 642 open contracts at this strike prior to today, and today 1206 contract(s) were bought and sold. 
• For TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we notice a put option trade that happens to be neutral, expiring in 8 day(s) on April 26, 2024. This event was a transfer of 100 contract(s) at a $135.00 strike. The total cost received by the writing party (or parties) was $49.0K, with a price of $490.0 per contract. There were 1247 open contracts at this strike prior to today, and today 1122 contract(s) were bought and sold. 
• Regarding CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we observe a put option sweep with bearish sentiment. It expires in 1 day(s) on April 19, 2024. Parties traded 100 contract(s) at a $275.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $46.5K, with a price of $465.0 per contract. There were 821 open contracts at this strike prior to today, and today 459 contract(s) were bought and sold. 
• For AKAM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), we notice a call option sweep that happens to be bearish, expiring in 274 day(s) on January 17, 2025. This event was a transfer of 29 contract(s) at a $100.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $39.7K, with a price of $1370.0 per contract. There were 3139 open contracts at this strike prior to today, and today 437 contract(s) were bought and sold. 
• Regarding SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we observe a put option trade with bullish sentiment. It expires in 274 day(s) on January 17, 2025. Parties traded 46 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $55.4K, with a price of $1205.0 per contract. There were 3438 open contracts at this strike prior to today, and today 235 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a put option trade with neutral sentiment. It expires in 1 day(s) on April 19, 2024. Parties traded 50 contract(s) at a $1250.00 strike. The total cost received by the writing party (or parties) was $240.0K, with a price of $4800.0 per contract. There were 465 open contracts at this strike prior to today, and today 209 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AKAM

MRVL

MSTR

Deep-pocketed investors have adopted a bearish approach towards Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), 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 19 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 52% bearish. Among these notable options, 8 are puts, totaling $1,159,623, and 11 are calls, amounting to $361,524.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $200.0 for Snowflake over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
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 $100.0 to $200.0 in the last 30 days. 
<h3>Snowflake 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713373294_0_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$19.55</td>
<td>$19.1</td>
<td>$19.15</td>
<td>$150.00</td>
<td>$861.7K</td>
<td>824</td>
<td style="text-align: right;">450</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$4.85</td>
<td>$4.75</td>
<td>$4.85</td>
<td>$100.00</td>
<td>$111.5K</td>
<td>3.9K</td>
<td style="text-align: right;">38</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$1.24</td>
<td>$1.09</td>
<td>$1.14</td>
<td>$162.50</td>
<td>$43.7K</td>
<td>154</td>
<td style="text-align: right;">3</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$21.0</td>
<td>$20.6</td>
<td>$20.95</td>
<td>$150.00</td>
<td>$41.9K</td>
<td>642</td>
<td style="text-align: right;">20</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$13.0</td>
<td>$12.85</td>
<td>$12.85</td>
<td>$170.00</td>
<td>$38.5K</td>
<td>318</td>
<td style="text-align: right;">32</td>
</tr>
</tbody>
</table>

<h3>About Snowflake</h3>
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.
<h3>Where Is Snowflake Standing Right Now?</h3>
<ul>
<li>With a volume of 1,460,556, the price of SNOW is down -0.37% at $149.75. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 35 days.</li>
</ul>
<h3>What The Experts Say On Snowflake</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $165.0.
<ul>
<li>Showing optimism, an analyst from Rosenblatt upgrades its rating to Buy with a revised price target of $185. </li>
<li>An analyst from Redburn Atlantic downgraded its action to Sell with a price target of $125. </li>
<li>An analyst from Keybanc has revised its rating downward to Overweight, adjusting the price target to $185. </li>
</ul>
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 <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Smart Money Is Betting Big In SNOW Options

Snowflake's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) short percent of float has risen 10.41% since its last report. The company recently reported that it has 9.60 million shares sold short, which is 2.97% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.47 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Snowflake Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713274227_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Snowflake has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Snowflake's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Snowflake's peer group average for short interest as a percentage of float is 6.74%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Snowflake's Recent Short Interest

ADSK

AVGO

BBAI

DOCU

HUBS

OKTA

Shares of tech, AI and software stocks are trading lower amid a rise in Treasury yields.

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$155.00</td>
<td>$30.9K</td>
<td>14.2K</td>
<td>24.5K</td>
</tr>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$880.00</td>
<td>$26.2K</td>
<td>4.3K</td>
<td>16.5K</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$275.00</td>
<td>$100.6K</td>
<td>967</td>
<td>1.6K</td>
</tr>
<tr>
<td>BILL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$45.00</td>
<td>$112.6K</td>
<td>472</td>
<td>1.3K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$100.00</td>
<td>$216.5K</td>
<td>7.9K</td>
<td>915</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$900.00</td>
<td>$68.8K</td>
<td>1.0K</td>
<td>880</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$155.00</td>
<td>$38.2K</td>
<td>772</td>
<td>865</td>
</tr>
<tr>
<td>ALAB</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$75.00</td>
<td>$43.0K</td>
<td>406</td>
<td>760</td>
</tr>
<tr>
<td>AMAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$215.00</td>
<td>$151.8K</td>
<td>474</td>
<td>491</td>
</tr>
<tr>
<td>WDC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/17/24</td>
<td>$70.00</td>
<td>$171.4K</td>
<td>7.6K</td>
<td>409</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 164 contract(s) at a $155.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $30.9K, with a price of $189.0 per contract. There were 14285 open contracts at this strike prior to today, and today 24511 contract(s) were bought and sold. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option trade that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 10 contract(s) at a $880.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $2621.0 per contract. There were 4337 open contracts at this strike prior to today, and today 16576 contract(s) were bought and sold. 
• For CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we notice a put option sweep that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 254 contract(s) at a $275.00 strike. This particular put needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $100.6K, with a price of $401.0 per contract. There were 967 open contracts at this strike prior to today, and today 1661 contract(s) were bought and sold. 
• Regarding BILL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>), we observe a put option sweep with bullish sentiment. It expires in 67 day(s) on June 21, 2024. Parties traded 979 contract(s) at a $45.00 strike. This particular put needed to be split into 43 different trades to become filled. The total cost received by the writing party (or parties) was $112.6K, with a price of $115.0 per contract. There were 472 open contracts at this strike prior to today, and today 1386 contract(s) were bought and sold. 
• Regarding MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we observe a call option trade with bullish sentiment. It expires in 32 day(s) on May 17, 2024. Parties traded 98 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $216.5K, with a price of $2210.0 per contract. There were 7999 open contracts at this strike prior to today, and today 915 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option trade that happens to be bullish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 20 contract(s) at a $900.00 strike. The total cost received by the writing party (or parties) was $68.8K, with a price of $3440.0 per contract. There were 1030 open contracts at this strike prior to today, and today 880 contract(s) were bought and sold. 
• Regarding SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we observe a call option trade with bullish sentiment. It expires in 32 day(s) on May 17, 2024. Parties traded 55 contract(s) at a $155.00 strike. The total cost received by the writing party (or parties) was $38.2K, with a price of $695.0 per contract. There were 772 open contracts at this strike prior to today, and today 865 contract(s) were bought and sold. 
• For ALAB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>), we notice a put option trade that happens to be bearish, expiring in 4 day(s) on April 19, 2024. This event was a transfer of 100 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $43.0K, with a price of $430.0 per contract. There were 406 open contracts at this strike prior to today, and today 760 contract(s) were bought and sold. 
• Regarding AMAT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>), we observe a call option sweep with bearish sentiment. It expires in 11 day(s) on April 26, 2024. Parties traded 506 contract(s) at a $215.00 strike. This particular call needed to be split into 292 different trades to become filled. The total cost received by the writing party (or parties) was $151.8K, with a price of $299.0 per contract. There were 474 open contracts at this strike prior to today, and today 491 contract(s) were bought and sold. 
• For WDC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), we notice a call option sweep that happens to be neutral, expiring in 32 day(s) on May 17, 2024. This event was a transfer of 381 contract(s) at a $70.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $171.4K, with a price of $450.0 per contract. There were 7602 open contracts at this strike prior to today, and today 409 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ALAB

AMAT

BILL

Wedbush Securities analyst Daniel Ives predicts a seismic shift in IT spending towards AI and related technologies. He estimates that such purchases will account for 8%-10% of IT budgets in 2024, a big jump from less than <a href="https://www.benzinga.com/topic/artificial-intelligence">1% in 2023</a>. 
<h2 class="wp-block-heading">Significant growth Trajectory Ahead</h2>
Major players in the tech sector, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), MongoDB Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDB#NASDAQ">MDB</a>), Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), Elastic NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>), stand to experience a significant growth trajectory fueled by this surge in investment, the analyst says.
Ives identifies this phenomenon as the &#8220;initial wave of AI software growth,&#8221; heralding a transformative period for the industry. Pioneers like Jensen Huang of Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Microsoft&#8217;s Satya Nadella spearheaded the first wave of the AI Revolution. Now, the ripple effects cascade across the tech landscape, offering substantial opportunities for companies positioned to capitalize on this burgeoning market.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38211388/nvidia-stock-trading-at-13-discount-to-long-term-average-other-ai-stocks-at-52-prem">Nvidia Stock Trades At 13% Discount To Long-Term Average, Other AI Stocks At 52% Premium</a>
<h2 class="wp-block-heading">Analyst Ratings &amp; Price Targets</h2>
Among the beneficiaries highlighted by Ives, Microsoft stands out as a prime candidate for substantial growth. Ives has an Outperform rating and a price target of $500 on Microsoft stock. Similarly, MongoDB, with its innovative database platform, earns an Outperform rating and a price target of $475. 
However, not all companies possess equal readiness to ride this wave. Snowflake, while maintaining a Neutral rating, holds a price target of $210 from Wedbush. The rating suggests a more cautious outlook on its potential to capitalize on the AI-driven market expansion.
As businesses increasingly recognize the transformative potential of AI technologies, experts anticipate a soaring demand for advanced software solutions. Companies like Palantir, Oracle, and Elastic, each rated Outperform by Wedbush Securities, position themselves to thrive in this evolving landscape. 
The forecasted surge in AI software spending represents a monumental growth catalyst for the tech sector. It could propel companies across the board towards unprecedented opportunities for innovation and expansion.
Read Next: <a href="https://www.benzinga.com/news/24/04/38239037/googles-sundar-pichai-grapples-with-ai-mishaps-nvidia-caitlin-clark-of-stock-market-and-more-this-we">Google&#8217;s Sundar Pichai Grapples With AI Mishaps, Nvidia &#8216;Caitlin Clark&#8217; Of Stock Market And More: This Week In AI</a>
Photo: Shutterstock

'Initial Wave Of AI Software Growth' To Spur Microsoft, Salesforce, Palantir, MongoDB, Oracle, Snowflake, And Elastic, Says Analyst

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/12/24</td>
<td>$885.00</td>
<td>$59.6K</td>
<td>5.5K</td>
<td>38.2K</td>
</tr>
<tr>
<td>SEDG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$65.00</td>
<td>$104.7K</td>
<td>667</td>
<td>3.0K</td>
</tr>
<tr>
<td>MARA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$16.00</td>
<td>$58.2K</td>
<td>8.0K</td>
<td>1.8K</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$155.00</td>
<td>$26.5K</td>
<td>2.5K</td>
<td>800</td>
</tr>
<tr>
<td>ENPH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/12/24</td>
<td>$120.00</td>
<td>$25.2K</td>
<td>477</td>
<td>693</td>
</tr>
<tr>
<td>CLSK</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$701.4K</td>
<td>142</td>
<td>501</td>
</tr>
<tr>
<td>MSFT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$400.00</td>
<td>$44.4K</td>
<td>1.5K</td>
<td>392</td>
</tr>
<tr>
<td>ZS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$180.00</td>
<td>$39.8K</td>
<td>57</td>
<td>386</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$135.00</td>
<td>$81.2K</td>
<td>3.9K</td>
<td>313</td>
</tr>
<tr>
<td>AI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$35.00</td>
<td>$31.2K</td>
<td>281</td>
<td>250</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option sweep that happens to be neutral, is expiring today. Parties traded 150 contract(s) at a $885.00 strike. This particular put needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $59.6K, with a price of $395.0 per contract. There were 5545 open contracts at this strike prior to today, and today 38223 contract(s) were bought and sold. 
• Regarding SEDG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>), we observe a put option sweep with bearish sentiment. It expires in 35 day(s) on May 17, 2024. Parties traded 136 contract(s) at a $65.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $104.7K, with a price of $770.0 per contract. There were 667 open contracts at this strike prior to today, and today 3066 contract(s) were bought and sold. 
• For MARA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on April 19, 2024. This event was a transfer of 756 contract(s) at a $16.00 strike. This particular put needed to be split into 35 different trades to become filled. The total cost received by the writing party (or parties) was $58.2K, with a price of $77.0 per contract. There were 8036 open contracts at this strike prior to today, and today 1880 contract(s) were bought and sold. 
• Regarding SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we observe a put option sweep with neutral sentiment. It expires in 7 day(s) on April 19, 2024. Parties traded 120 contract(s) at a $155.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $26.5K, with a price of $222.0 per contract. There were 2513 open contracts at this strike prior to today, and today 800 contract(s) were bought and sold. 
• For ENPH (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), we notice a put option trade that happens to be bearish, is expiring today. Parties traded 70 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $25.2K, with a price of $360.0 per contract. There were 477 open contracts at this strike prior to today, and today 693 contract(s) were bought and sold. 
• Regarding CLSK (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>), we observe a put option trade with neutral sentiment. It expires in 280 day(s) on January 17, 2025. Parties traded 494 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $701.4K, with a price of $1420.0 per contract. There were 142 open contracts at this strike prior to today, and today 501 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a put option sweep that happens to be bearish, expiring in 14 day(s) on April 26, 2024. This event was a transfer of 107 contract(s) at a $400.00 strike. This particular put needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $44.4K, with a price of $415.0 per contract. There were 1546 open contracts at this strike prior to today, and today 392 contract(s) were bought and sold. 
• Regarding ZS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>), we observe a call option trade with bullish sentiment. It expires in 161 day(s) on September 20, 2024. Parties traded 16 contract(s) at a $180.00 strike. The total cost received by the writing party (or parties) was $39.8K, with a price of $2490.0 per contract. There were 57 open contracts at this strike prior to today, and today 386 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a put option sweep that happens to be bearish, expiring in 70 day(s) on June 21, 2024. This event was a transfer of 250 contract(s) at a $135.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $81.2K, with a price of $325.0 per contract. There were 3954 open contracts at this strike prior to today, and today 313 contract(s) were bought and sold. 
• Regarding AI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>), we observe a call option sweep with bearish sentiment. It expires in 189 day(s) on October 18, 2024. Parties traded 214 contract(s) at a $35.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $31.2K, with a price of $146.0 per contract. There were 281 open contracts at this strike prior to today, and today 250 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CLSK

ENPH

SEDG

Snowflake shares are trading higher after Keybanc initiated coverage on the stock with an Overweight rating and a price target of $185.

Shares of Snowflake Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snow#NYSE">SNOW</a>) climbed in early trading on Thursday amid <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38166100/snowflake-stock-a-buy-the-dip-opportunity-reddit-user-calls-it-the-dog-of-my-long-t">chatter on Reddit around the stock valuation</a>.
The Bozeman, Montana-based company is likely to sustain more than 20% growth, driven by continued legacy data warehouse migrations, increasing public cloud migrations, expansion of the company&rsquo;s product portfolio expansion, and the use of its platform for developing and hosting GenAI workloads, according to KeyBanc Capital Markets.
The Snowflake Analyst: Eric Heath initiated coverage of Snowflake with an Overweight rating and price target of $185.
The Snowflake Thesis: The database TAM (total addressable market) is expected to expand to $241 billion by 2028, Heath said in the initiation note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Snowflake&rsquo;s cloud data warehouse is expanding &ldquo;horizontally across OLAP from data warehouse to data lake and into OLTP with Unistore&rdquo; as well as &ldquo;vertically to data science and GenAI workloads, data engineering, and visualization/app layer,&rdquo; the analyst stated.
The company&rsquo;s &ldquo;vertical expansion into data science, GenAI, and visualization/application layer&rdquo; expands the TAM to $350 billion by 2028, he added. 
&ldquo;We forecast FY25/FY26 revs ~0.5% above cons. given our positive-leaning view on iceberg opening new workloads, GenAI and Cortex adoption, and improving consumption trends,&rdquo; Heath further wrote.
SNOW Price Action: Shares of Snowflake had risen by 1.69% to $155.56 at the time of publication on Thursday.
Image: Shutterstock

Keybanc analyst Eric Heath initiates coverage on Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) with a Overweight rating and announces Price Target of $185.

Price Target

Keybanc Initiates Coverage On Snowflake with Overweight Rating, Announces Price Target of $185

Whales with a lot of money to spend have taken a noticeably bullish stance on Snowflake.
Looking at options history for Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) we detected 46 trades.
If we consider the specifics of each trade, it is accurate to state that 58% of the investors opened trades with bullish expectations and 41% with bearish.
From the overall spotted trades, 23 are puts, for a total amount of $1,451,282 and 23, calls, for a total amount of $965,956.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $250.0 for Snowflake over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snowflake's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snowflake's significant trades, within a strike price range of $100.0 to $250.0, over the past month.
<h3>Snowflake Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712781056_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$26.55</td>
<td>$26.5</td>
<td>$26.5</td>
<td>$160.00</td>
<td>$212.0K</td>
<td style="text-align: right;">960</td>
<td style="text-align: right;">38</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$19.6</td>
<td>$19.5</td>
<td>$19.5</td>
<td>$170.00</td>
<td>$130.6K</td>
<td style="text-align: right;">724</td>
<td style="text-align: right;">72</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$13.05</td>
<td>$12.3</td>
<td>$12.4</td>
<td>$175.00</td>
<td>$117.8K</td>
<td style="text-align: right;">170</td>
<td style="text-align: right;">95</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$29.5</td>
<td>$29.35</td>
<td>$29.5</td>
<td>$165.00</td>
<td>$94.4K</td>
<td style="text-align: right;">723</td>
<td style="text-align: right;">7</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$8.6</td>
<td>$8.6</td>
<td>$8.6</td>
<td>$120.00</td>
<td>$86.0K</td>
<td style="text-align: right;">949</td>
<td style="text-align: right;">100</td>
</tr>
</tbody>
</table>

<h3>About Snowflake</h3>
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.
<h3>Snowflake's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 3,574,919, the SNOW's price is down by -1.98%, now at $152.5. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 42 days.</li>
</ul>
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 <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

What the Options Market Tells Us About Snowflake

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/12/24</td>
<td>$850.00</td>
<td>$48.8K</td>
<td>2.7K</td>
<td>32.0K</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/12/24</td>
<td>$38.00</td>
<td>$31.5K</td>
<td>2.2K</td>
<td>19.0K</td>
</tr>
<tr>
<td>AMD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$170.00</td>
<td>$42.7K</td>
<td>16.2K</td>
<td>8.8K</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/20/24</td>
<td>$8.00</td>
<td>$36.5K</td>
<td>3.1K</td>
<td>713</td>
</tr>
<tr>
<td>CSCO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$47.50</td>
<td>$34.6K</td>
<td>7.1K</td>
<td>696</td>
</tr>
<tr>
<td>HCP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$26.00</td>
<td>$70.6K</td>
<td>1.3K</td>
<td>618</td>
</tr>
<tr>
<td>HUBS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$1000.00</td>
<td>$58.5K</td>
<td>0</td>
<td>577</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$425.00</td>
<td>$27.1K</td>
<td>2.5K</td>
<td>524</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$152.50</td>
<td>$36.9K</td>
<td>471</td>
<td>445</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$165.00</td>
<td>$248.5K</td>
<td>8.0K</td>
<td>432</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option trade with bullish sentiment. It expires in 3 day(s) on April 12, 2024. Parties traded 40 contract(s) at a $850.00 strike. The total cost received by the writing party (or parties) was $48.8K, with a price of $1220.0 per contract. There were 2799 open contracts at this strike prior to today, and today 32076 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a call option sweep with bearish sentiment. It expires in 3 day(s) on April 12, 2024. Parties traded 500 contract(s) at a $38.00 strike. This particular call needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $31.5K, with a price of $63.0 per contract. There were 2204 open contracts at this strike prior to today, and today 19001 contract(s) were bought and sold. 
• Regarding AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we observe a put option sweep with bullish sentiment. It expires in 10 day(s) on April 19, 2024. Parties traded 77 contract(s) at a $170.00 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $42.7K, with a price of $555.0 per contract. There were 16282 open contracts at this strike prior to today, and today 8869 contract(s) were bought and sold. 
• Regarding RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we observe a call option sweep with bearish sentiment. It expires in 164 day(s) on September 20, 2024. Parties traded 100 contract(s) at a $8.00 strike. This particular call needed to be split into 21 different trades to become filled. The total cost received by the writing party (or parties) was $36.5K, with a price of $365.0 per contract. There were 3155 open contracts at this strike prior to today, and today 713 contract(s) were bought and sold. 
• Regarding CSCO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>), we observe a put option sweep with bullish sentiment. It expires in 283 day(s) on January 17, 2025. Parties traded 142 contract(s) at a $47.50 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $34.6K, with a price of $244.0 per contract. There were 7163 open contracts at this strike prior to today, and today 696 contract(s) were bought and sold. 
• For HCP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCP#NASDAQ">HCP</a>), we notice a call option trade that happens to be neutral, expiring in 10 day(s) on April 19, 2024. This event was a transfer of 614 contract(s) at a $26.00 strike. The total cost received by the writing party (or parties) was $70.6K, with a price of $115.0 per contract. There were 1349 open contracts at this strike prior to today, and today 618 contract(s) were bought and sold. 
• For HUBS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUBS#NYSE">HUBS</a>), we notice a call option trade that happens to be bearish, expiring in 619 day(s) on December 19, 2025. This event was a transfer of 24 contract(s) at a $1000.00 strike. The total cost received by the writing party (or parties) was $58.5K, with a price of $2440.0 per contract. There were 0 open contracts at this strike prior to today, and today 577 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option sweep with neutral sentiment. It expires in 17 day(s) on April 26, 2024. Parties traded 27 contract(s) at a $425.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $27.1K, with a price of $1005.0 per contract. There were 2512 open contracts at this strike prior to today, and today 524 contract(s) were bought and sold. 
• For SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we notice a put option sweep that happens to be bearish, expiring in 10 day(s) on April 19, 2024. This event was a transfer of 150 contract(s) at a $152.50 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $36.9K, with a price of $246.0 per contract. There were 471 open contracts at this strike prior to today, and today 445 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a put option sweep with bullish sentiment. It expires in 346 day(s) on March 21, 2025. Parties traded 228 contract(s) at a $165.00 strike. This particular put needed to be split into 22 different trades to become filled. The total cost received by the writing party (or parties) was $248.5K, with a price of $1090.0 per contract. There were 8027 open contracts at this strike prior to today, and today 432 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CSCO

A recent Reddit post by user Fountainheadusa has sparked a lively discussion about Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) stock. Let&#8217;s explore the insights shared by Reddit investors and delve into the implications <a href="https://www.benzinga.com/quote/SNOW/news">for Snowflake&#8217;s future</a>.
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
<div class="wp-block-embed__wrapper">
<blockquote class="reddit-embed-bq" style="height:316px" ><a href="https://www.reddit.com/r/stocks/comments/1bz4fyh/snowflake_snow_ls_worth_buying_on_declines/">Snowflake (SNOW) ls worth buying on declines</a> by<a href="https://www.reddit.com/user/Fountainheadusa/">u/Fountainheadusa</a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
<h2 class="wp-block-heading">Reddit Investor Sentiment For Snowflake Stock</h2>
Fountainheadusa&#8217;s post makes a compelling case for buying Snowflake stock on declines. The Redditor highlighted the potential of the company&#8217;s upcoming CEO transition and strategic partnerships. 
While some Redditors echoed this sentiment, expressing optimism about Snowflake&#8217;s growth prospects. Others struck a more cautious tone, pointing out concerns regarding the company&#8217;s valuation and profitability. 
The diversity of opinions within the Reddit community underscores the complexity of investing in Snowflake and emphasizes the importance of thorough research.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/03/37990438/snowflake-expands-data-clean-rooms-across-clouds-ceos-insider-buying-amid-databricks-competition">Snowflake Expands Data Clean Rooms Across Clouds; CEO&#8217;s Insider Buying Amid Databricks &#8216;Competition&#8217; Buzz Sparks Attention</a>
<h2 class="wp-block-heading">Discussion Highlights</h2>
Some users delved into the intricacies of Snowflake&#8217;s financial metrics, analyzing factors such as free cash flow margins and stock-based compensation. 
For example, one Redditor questions the reliability of Snowflake&#8217;s impressive free cash flow margin, suggesting that stock-based compensation may skew the metric:
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
<div class="wp-block-embed__wrapper">
<blockquote class="reddit-embed-bq" ><a href="https://www.reddit.com/r/stocks/comments/1bz4fyh/comment/kynz7id/">Comment</a> by<a href="https://www.reddit.com/user/Fountainheadusa/">u/Fountainheadusa</a> from discussion<a href="https://www.reddit.com/r/stocks/comments/1bz4fyh/snowflake_snow_ls_worth_buying_on_declines/"><no value></no></a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
Other Reddit users focused on broader market dynamics and industry trends. Pipasnipa, for example, is considering how these factors may impact Snowflake&#8217;s future performance.
&#8220;It&#8217;s been the dog of my long-term portfolio the past few years,&#8221; the investor said. &#8220;There is a lot of potential but it will take time for this stock to grow into its valuation.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
<div class="wp-block-embed__wrapper">
<blockquote class="reddit-embed-bq" ><a href="https://www.reddit.com/r/stocks/comments/1bz4fyh/comment/kynhfxk/">Comment</a> by<a href="https://www.reddit.com/user/Fountainheadusa/">u/Fountainheadusa</a> from discussion<a href="https://www.reddit.com/r/stocks/comments/1bz4fyh/snowflake_snow_ls_worth_buying_on_declines/"><no value></no></a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
The depth and breadth of the discussion demonstrate the engaged and analytical nature of the Reddit community when it comes to evaluating investment opportunities.
<h2 class="wp-block-heading">Key Takeaways</h2>
As Snowflake investors, it&#8217;s crucial to embrace diverse perspectives and conduct thorough research before making investment decisions. 
While bullish sentiments highlight Snowflake&#8217;s potential for growth and innovation, it&#8217;s equally important to consider the risks and challenges associated with the company, including valuation concerns and market dynamics. 
By staying informed and maintaining a balanced approach, Snowflake investors can navigate the complexities of the stock market with confidence and make informed decisions that align with their investment objectives.
Analyst consensus, <a href="https://www.benzinga.com/quote/SNOW/analyst-ratings">as found on Benzinga</a>, echoes Redditors&#8217; bullish sentiments. Snowflake stock is rated a Buy per consensus, with a price target of $189.86. 
Rosenblatt, on April 5 upgraded the stock from Neutral to Buy. The analyst has a price target of $185 on the stock, implying an upside of 19.35% from current price levels.
SNOW Price Action: Snowflake stock closed 0.65% higher at $154.86 on Monday.
Read Next: <a href="https://www.benzinga.com/insights/analyst-ratings/24/04/38108095/31-analysts-have-this-to-say-about-snowflake">31 Analysts Have This To Say About Snowflake</a>
Image: Shutterstock

Snowflake Stock A Buy-The-Dip Opportunity? Reddit User Calls It 'The Dog Of My Long-Term Portfolio'

Analysts are busy today issuing their notes before the week&#39;s end. The tech sector is no exception, with&nbsp;Snowflake Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snow#NYSE">SNOW</a>)&nbsp;and&nbsp;Western Digital Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>)&nbsp;both making moves higher after Rosenblatt Securities doled out upgrades to the stocks.&nbsp;
Cloud stock&nbsp;Snowflake is 2.1% higher to trade at $154.47, after getting bumped to &quot;buy&quot; from &quot;neutral.&quot; The analyst cited strong interest in the platform from consumers, as well as the expanding ecosystem surrounding the firm.
SNOW is trading well below its roughly two-year highs from February. The equity is on pace for a 4.8% weekly loss -- its sixth drop in the last eight weeks -- and remains down 22.7% in 2024.&nbsp;
Computer hardware stock Western Digital, meanwhile, is 0.9% higher to trade at $71.21 this morning, after also getting bumped to &quot;buy&quot; from &quot;neutral.&quot; The analyst noted rising prices for a key type of memory chip should help WDC move higher.
Western Digital stock is an outperforming equity, up 36.5% year to date thanks to a surge in interest regarding artificial intelligence (AI) chips. Looking further back, WDC boasts a 103.3% year-over-year lead, and yesterday touched more than two-year high of $74.86.
The article &quot;<a href="https://www.marketbeat.com/articles/2-tech-stocks-bouncing-after-bull-notes-2024-04-08/">2 Tech Stocks Bouncing After Bull Notes</a>&quot; first appeared on MarketBeat.

2 Tech Stocks Bouncing After Bull Notes

Investors with a lot of money to spend have taken a bullish stance on Snowflake (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>).
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, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 37 uncommon options trades for Snowflake.
This isn't normal.
The overall sentiment of these big-money traders is split between 59% bullish and 40%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $445,678, and 29 are calls, for a total amount of $2,169,511.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $250.0 for Snowflake during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
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 $100.0 to $250.0 over the preceding 30 days.
<h3>Snowflake 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712348150_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$34.5</td>
<td>$34.05</td>
<td>$34.5</td>
<td>$160.00</td>
<td>$610.6K</td>
<td>69</td>
<td style="text-align: right;">182</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$57.45</td>
<td>$55.35</td>
<td>$56.4</td>
<td>$100.00</td>
<td>$282.0K</td>
<td>161</td>
<td style="text-align: right;">50</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$5.65</td>
<td>$5.55</td>
<td>$5.55</td>
<td>$250.00</td>
<td>$138.7K</td>
<td>2.0K</td>
<td style="text-align: right;">87</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$28.65</td>
<td>$28.6</td>
<td>$28.65</td>
<td>$165.00</td>
<td>$117.4K</td>
<td>636</td>
<td style="text-align: right;">52</td>
</tr>
<tr>
<td>SNOW</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$32.85</td>
<td>$32.1</td>
<td>$32.6</td>
<td>$145.00</td>
<td>$107.5K</td>
<td>55</td>
<td style="text-align: right;">46</td>
</tr>
</tbody>
</table>

<h3>About Snowflake</h3>
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.
<h3>Where Is Snowflake Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 4,998,697, with SNOW's price up by 1.67%, positioned at $153.86.</li>
<li>RSI indicators show the stock to be may be approaching oversold.</li>
<li>Earnings announcement expected in 47 days.</li>
</ul>
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, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

In a report released on April 12, Michael Turrin from Wells Fargo maintained a Buy rating on Snowflake (SNOW – Research Report), with a price targe...

Wells Fargo Remains a Buy on Snowflake (SNOW)

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Keith Weiss, an analyst from Morgan Stanley, maintained the Hold rating on Snowflake (SNOW – Research Report). The associated price target remains ...

Assessing Snowflake's Growth Outlook: A Hold Rating Amidst Evolving Revenue Dynamics

In a report released on April 14, Mark Moerdler from Bernstein maintained a Hold rating on Snowflake (SNOW – Research Report), with a price target ...

Bernstein Keeps Their Hold Rating on Snowflake (SNOW)

ClearBridge Multi Cap Growth Strategy Q1 2024 Portfolio Manager Commentary

Meta rises as Llama 3-powered AI assistant hits more platforms, global markets

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) has been the AI stock that has stayed hot over the past year, with its latest parabolic run taking it just shy of $1,000 per share. Undoubtedly, there&rsquo;s plenty to look forward to as the newest AI chips come out of the pipeline to feed unprecedented demand. As the ultimate &ldquo;pick and shovel&rdquo; way to play the AI boom, one that&rsquo;s probably far from over, it certainly makes sense to add to a position on any dips between now and year&rsquo;s end.



Recently, Nvidia stock has been finally showing signs of rolling over, dipping by nearly 20% from its $950 and change all-time high. Though nothing fundamental has changed in the past few weeks that caused Nvidia stock to slip, I think investors are becoming a tad more value-conscious and perhaps more skeptical of scorching momentum.



While the recent NVDA stock correction may prove a wise long-term buying opportunity, the fact remains that an 20% pullback is a tiny blip in the one-year chart! And with a lofty 64x trailing price-to-earnings (P/E) multiple, there may be a better entry point for patient investors. Here are three <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a> I&rsquo;d rather own over Nvidia as the AI trade rolls over some potholes.



<h2>Intel (INTC)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/03/intc.png"><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/intc-300x169.png" alt="Intel (INTC) - Quantum Computing Stocks to Buy"></a>Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) sees itself as a serious contender in the AI race, even if most analysts and investors aren&rsquo;t buying it. The stock has been on a painful downward spiral in recent months, nosediving more than 31% off its 52-week high of just shy of $51 per share. 



Undoubtedly, the old-time semiconductor firm seems to be sparing no expense when it comes to building out new foundries and developing next-generation AI chips. 



Undoubtedly, there is some concern over the price tag of some of the company&rsquo;s aggressive foundry development plans. It&rsquo;s costing more than expected and is adding to the firm&rsquo;s recent losses. And with recent delays in its Ohio-based foundry, investors are starting to get a bit impatient with the long-time laggard.



There&rsquo;s been no shortage of disappointment when it comes to Intel lately. However, the stock offers a pretty enticing price of admission to investors who view the firm&rsquo;s AI accelerators as having a puncher&rsquo;s chance against the competition. 



Intel&rsquo;s much-anticipated and more power-efficient <a href="https://www.cnbc.com/2024/04/09/intel-unveils-gaudi-3-ai-chip-as-nvidia-competition-heats-up-.html">Gaudi 3 AI chip</a> was unveiled a few weeks ago, and once it hits the market, it may begin to nibble at the heels of Nvidia&rsquo;s H100. I think too many are underestimating Gaudi&rsquo;s potential. 



<h2>AMD (AMD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/12/amd1600-1-300x169.png" alt="Advanced Micro Devices, Inc. (AMD) logo in the building at CNE in Toronto. AMD is an American semiconductor company."><div>Source: JHVEPhoto / Shutterstock.com</div></div>AMD (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) is more than just Nvidia&rsquo;s younger cousin; it&rsquo;s a company that wants a better position in the AI race. And it may very well have its way as it continues investing heavily in its latest GPUs. Though I still like Nvidia for the long term, I&rsquo;m more enthused by the entry point of AMD stock after enduring more punishment since its early-March peak. The stock is down just shy of 27% from its peak, a nice entry point, so say some analysts.



HSBC analyst <a href="https://www.barrons.com/articles/amd-stock-nvidia-ai-upgrade-5760ee3c">Frank Lee</a> hiked its rating on AMD stock to Buy from Hold, citing the potential for the next generation of AI chips to compete with Nvidia&rsquo;s Blackwell line. Specifically, Lee highlights MI350, MI375, and MI400 as the chips to watch going into the second half of 2024. 



Lee is right. AMD is no slouch when it comes to AI chips. And while we&rsquo;re all hyped about Nvidia&rsquo;s Blackwell chips, I do think many investors are sleeping on AMD&rsquo;s comparables.



<h2>Snowflake (SNOW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/snow-1600-300x169.png" alt="Snowflake symbol and logo at the company corporate headquarters in Silicon Valley. SNOW stock."><div>Source: Sundry Photography / Shutterstock</div></div>Finally, we have a software AI play in Snowflake (NYSE:<a href="https://investorplace.com/stock-quotes/snow-stock-quote/">SNOW</a>), which is fresh off a devastating, likely overdone, crash that came after a rough quarterly guide and a sudden CEO change. 



The stock is now down more than 37% from its February 2024 peak. With the market cap back below $50 billion, numerous unanswered questions have investors and analysts rushing to the sidelines, most notably how Snowflake&rsquo;s new CEO will steer the company in the age of AI.



Amid the snowslide, though, some analysts, including Rosenblatt Securities, are turning bullish. Rosenblatt sees slower sales growth but sees the ecosystem as healthy. Indeed, I agree with the bullish turn after the nasty sell-off, which hopefully is nearing its end.



Moving ahead, I expect new CEO Sridhar Ramaswamy will have a lot to prove to the world as Snowflake as he focuses heavily on AI innovation, which is likely required to re-accelerate growth.



On the date of publication, Joey Frenette did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Joey Frenette is a seasoned investment writer specializing in technology and consumer stocks. Contributing to the Motley Fool Canada, TipRanks, and Barchart, Joey excels in spotting mispriced stocks with long-term growth potential in a fast-paced market.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-ai-stocks-id-buy-over-nvidia-any-day-of-the-week/">3 AI Stocks I'd Buy Over Nvidia Any Day of the Week</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 AI Stocks I'd Buy Over Nvidia Any Day of the Week

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
If the recent sell-off with <a href="https://investorplace.com/industries/technology/artificial-intelligence/">artificial intelligence stocks</a> has you thinking that this is a prime &ldquo;buy the dip&rdquo; opportunity, think again. What should be top of mind instead is what are the AI stocks to sell.



There&rsquo;s a good chance that the AI stock rout of April 19 was not an overreaction, but an appropriate response by the market in light of recent development with top AI software and hardware companies.



Until now, the market has priced-in continued high growth for the sector as a near certainty. Hence, the reporting of fiscal results that come up even a little short of these expectations causing massive disappointment.



That&rsquo;s not all. If, one after another, the stocks with the greatest AI-related exposure fall short, a continued AI stock sell-off is likely to have a sharper impact on stocks with more dubious AI catalysts.



So, in order to take heed of this market warning, what are the AI stocks to sell? Start with these seven.



<h2>Advanced Micro Devices (AMD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/amd_stock1600-2-300x169.png" alt="Sign of AMD office in Markham, Ontario, Canada. Advanced Micro Devices, Inc. is an American multinational semiconductor company."><div>Source: JHVEPhoto / Shutterstock.com</div></div>As recently as March, it may have seemed as if 2024 was going to be Advanced Micro Devices&rsquo; (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) &ldquo;year of AI,&rdquo; much like 2023 was the &ldquo;year of AI&rdquo; for this chip designer&rsquo;s main rival, Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>).



However, after surging to $227.30 per share earlier this year, AMD stock has pulled back. The latest AI stock sell-off has led to a further reversal for shares. Before, investors weren&rsquo;t afraid to bid up AMD, in anticipation of the company beating its own forecasts, regarding sales of its MI300 series of AI accelerators.



Now, the market is erring toward caution. Although Advanced Micro Devices may just well beat its $3.5 billion sales forecast for the MI300, not to mention end up reporting very promising initial numbers for its <a href="https://www.investors.com/news/technology/amd-stock-ai-chips-business-pcs/">AI-PC chip sales</a>, stay away as sentiment leans bearish in the near-term.



<h2>Intel (INTC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/intc1600f-300x169.jpg" alt="The Intel logo in blue on a black screen."><div>Source: Kate Krav-Rude / Shutterstock.com</div></div>Intel (NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) is a good example of what I was talking about above regarding questionable AI stocks to sell. During the previous fall and winter, investors warmed back up to this chipmaker, due to increased appreciation of its own AI chip catalyst.



This catalyst joined another existing catalyst, Intel&rsquo;s build out of its foundry business. With two catalysts in play, the market became very much more confident in a possible INTC stock comeback after years of underperformance. Since then, however, <a href="https://investorplace.com/2024/04/7-tech-stocks-to-sell-in-april-before-they-crash-and-burn/">cracks have emerged with the foundry catalyst</a>, as I&rsquo;ve pointed out previously.



Going forward, <a href="https://www.barrons.com/articles/intel-amd-stock-china-chips-909eaeb1?mod=md_stockoverview_news">China-related headwinds</a> could keep shares trending lower. It&rsquo;s also possible that uncertainty about Intel&rsquo;s initial foray into AI chips increases as well. INTC is no longer priced as if a turnaround is guaranteed. Wait until this stock, trading for 25.2 times forward earnings, once again sports a heavily-discounted valuation.



<h2>Palantir Technologies (PLTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/pltr1600-300x169.png" alt="Palantir Technologies (PLTR) logo seen on billboard, known as Palantir is a public American company that specializes in big data analytics."><div>Source: Poetra.RH / Shutterstock.com</div></div>After looking at two AI hardware stocks, let&rsquo;s look at Palantir Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/pltr-stock-quote/">PLTR</a>), which since last year has been one of the hottest AI <a href="https://investorplace.com/industries/technology/software/">software stocks</a> out there. 



Admittedly, Palantir has been both aggressive and successful in capitalizing on the generative AI growth trend. At least, <a href="https://www.marketwatch.com/story/palantirs-stock-gains-as-company-rides-ai-wave-to-upbeat-earnings-outlook-d27e5a7a">based on the enterprise software company&rsquo;s results from Q4 2023</a>.



Even as PLTR stock has sold off in recent months, Palantir&rsquo;s AI growth catalyst remains overly baked into its valuation. Shares sell for 62.2 times forward earnings. With shares this pricey, the market may get scared off by any indication of an impending growth slowdown. 



Such an indication could arrive as soon as a few weeks from now post-market on May 6, Palantir next reports earnings. Even if results beat expectations, underwhelming guidance or customer growth numbers could drive a post-earnings plunge.



<h2>Super Micro Computer (SMCI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/smci1600-300x169.png" alt="In this photo illustration, the Super Micro Computer, Inc. (SMCI) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Super Micro Computer (NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>) is one of the top AI stocks to sell. After all, it&rsquo;s the AI stock <a href="https://seekingalpha.com/news/4091625-semiconductors-stocks-tumble-amid-super-micro-ai-fears">that&rsquo;s driven the aforementioned sharp sell-off</a>. 



Why has the market especially bailed on shares in this AI server builder? Mostly, because the company has <a href="https://www.investors.com/news/technology/smci-stock-supermicro-falls-no-preliminary-results/">decided not to release preliminary quarterly results</a>.



Investors perceive this to mean disappointment, when Super Micro&rsquo;s latest fiscal performance and updates to guidance hit the street on April 30. 



SMCI stock skeptics have argued that recent growth, boosted by the tech sector&rsquo;s AI arms race, is likely to slow down. If proven correct, die hard and fair weather bulls alike may bail.



With this, it is very risky to continue holding a position in SMCI right now. Earnings are just a week away, and those deciding to hold on through earnings could end up &ldquo;holding the bag,&rdquo; as shares continue to plummet.



<h2>Snowflake (SNOW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/snow-1600-300x169.png" alt="Snowflake symbol and logo at the company corporate headquarters in Silicon Valley. SNOW stock."><div>Source: Sundry Photography / Shutterstock</div></div>Snowflake (NYSE:<a href="https://investorplace.com/stock-quotes/snow-stock-quote/">SNOW</a>) shares have been affected somewhat by the AI stock sell-off, but these declines pale compared to massive sell-off shares experienced after the cloud data provider&rsquo;s most recent quarterly earnings release in late February.



As I have discussed previously, <a href="https://investorplace.com/2024/03/dont-get-buried-the-snow-stock-avalanche-may-continue/">SNOW stock avalanched lower</a>, due to both weak guidance, as well as an unexpected announcement of a CEO change. Since then, shares have kept declining, as investors walk back expectations. However, with the market sentiment about AI stocks in general shifting toward bearish, look out! Another big avalanche may be in the cards for SNOW shares.



Gen AI has been considered a growth catalyst for Snowflake. If the market&rsquo;s excitement about this trend is declining, a further reassessment for Snowflake&rsquo;s future growth prospects may soon follow. SNOW trades at a staggeringly-high 152.6 times earnings. This leaves big room for a rerating to the downside.



<h2>SoundHound AI (SOUN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/soun1600-1-300x169.png" alt="In this photo illustration, the SoundHound logo seen displayed on a smartphone. SOUN stock"><div>Source: rafapress / Shutterstock.com</div></div>SoundHound AI (NASDAQ:<a href="https://investorplace.com/stock-quotes/soun-stock-quote/">SOUN</a>) is another example of a speculative name among the AI stocks to sell. As InvestorPlace&rsquo;s Larry discussed back in February, shares in this voice AI company skyrocketed in price, <a href="https://investorplace.com/2024/02/nvidia-is-betting-on-soundhound-ai-soun-stock/">following news that Nvidia had invested in the company</a>.



Frenzy among meme speculators about SOUN stock persisted through March, yet so far this month, it has declined spectacularly. Initially, because of news of the company&rsquo;s plans to raise <a href="https://www.barrons.com/articles/soundhound-ai-stock-nvidia-20a4365a">$150 million</a> in capital through an at-the-market equity program. Shares sold off in response to the dilutive impact that this capital raise will have.



The broad sell-off in AI stocks is placing more pressure on SOUN. A market more cautious about AI plays likely means further big downside ahead. Even as this upstart still has Nvidia in its corner, as this $3.25 stock could quickly return to pre-meme prices of under $2 per share, stay away.



<h2>Taiwan Semiconductor Manufacturing (TSM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/tsm-stock-1-300x169.jpg" alt="image of TSM semiconductor office building"><div>Source: Sundry Photography / Shutterstock.com</div></div>Taiwan Semiconductor Manufacturing (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) had a rough go of it this week. First, following the leading chip foundry&rsquo;s latest earnings release on April 18, shares experienced a modest decline. 



Despite what was a solid earnings report overall, <a href="https://www.barrons.com/articles/tsmc-taiwan-semiconductor-earnings-stock-price-9ae55b18?mod=md_stockoverview_news">investors focused on the major negatives</a> with the release.



Namely, <a href="https://www.barrons.com/articles/tsmc-taiwan-semiconductor-earnings-stock-price-9ae55b18?mod=md_stockoverview_news">downbeat statements from management</a> about overall chip demand this year. Then, TSM stock sank again on April 19. This time, because of the market jitters related to Super Micro Computer spilling over to other chip stocks. In the immediate term, further fears about an AI chip demand slowdown could place more pressure on TSM. 



Also, don&rsquo;t forget that there&rsquo;s the &ldquo;known unknown&rdquo; of <a href="https://www.politico.com/news/2024/03/23/worries-about-potential-china-taiwan-conflict-spur-state-legislation-00148579">a possible China-Taiwan conflict</a> eventually happening. TSM&rsquo;s valuation of just 20 times forward earnings may not fully account for all of these risks. With this, consider it best to sell and sit on the sidelines for now.



On the date of publication, Thomas Niel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-ai-stocks-that-could-be-heading-six-feet-under/">7 AI Stocks That Could Be Heading Six-Feet Under</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 AI Stocks That Could Be Heading Six-Feet Under

In a report released today, Gil Luria from D.A. Davidson maintained a Buy rating on Snowflake (SNOW – Research Report). The company's shares closed...

D.A. Davidson Keeps Their Buy Rating on Snowflake (SNOW)

Snowflake unveils flagship AI model Arctic to woo enterprises

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Legal

Press Releases

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Palo Alto, Snowflake, and Chemours and Encourages Investors to Contact the Firm

SNOW IMPORTANT DEADLINE: ROSEN, SKILLED INVESTOR COUNSEL, Encourages Snowflake Inc. Investors with Losses in Excess of $100K to Secure Counsel Before Important April 29 Deadline in Securities Class Action – SNOW

SNOWFLAKE INC. (NYSE: SNOW) DEADLINE ALERT: Bernstein Liebhard LLP Reminds Snowflake Inc. Investors of Upcoming Deadline

Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of April 29, 2024 in Snowflake Inc. Lawsuit - SNOW

SNOW INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Snowflake Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit!

DEADLINE NEXT WEEK: Robbins Geller Rudman & Dowd LLP Announces that Snowflake Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - SNOW

SNOW DEADLINE ALERT: ROSEN, A LEADING LAW FIRM, Encourages Snowflake Inc. Investors to Secure Counsel Before Important April 29 Deadline in Securities Class Action – SNOW

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Snowflake Inc. (SNOW)

Snowflake Launches Arctic: The Most Open, Enterprise-Grade Large Language Model

DEADLINE ALERT for PANW, PLCE, SNOW, and KIND: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders