Whales with a lot of money to spend have taken a noticeably bearish stance on Snowflake.
Looking at options history for Snowflake (NYSE:SNOW) we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 26% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $481,267 and 12, calls, for a total amount of $726,550.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $115.0 to $290.0 for Snowflake over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Snowflake's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Snowflake's whale trades within a strike price range from $115.0 to $290.0 in the last 30 days.
Snowflake Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BEARISH | 01/17/25 | $13.05 | $12.85 | $13.03 | $135.00 | $148.5K | 500 | 114 |
| SNOW | PUT | SWEEP | BEARISH | 11/15/24 | $5.05 | $4.95 | $5.05 | $115.00 | $137.3K | 157 | 0 |
| SNOW | CALL | SWEEP | BULLISH | 05/03/24 | $3.4 | $3.35 | $3.4 | $157.50 | $131.5K | 1.3K | 484 |
| SNOW | CALL | SWEEP | BULLISH | 05/03/24 | $3.4 | $3.3 | $3.4 | $157.50 | $101.9K | 1.3K | 1.4K |
| SNOW | CALL | SWEEP | BEARISH | 05/03/24 | $3.45 | $3.4 | $3.4 | $157.50 | $93.1K | 1.3K | 574 |
About Snowflake
Founded in 2012, Snowflake is a data lake, warehousing, and sharing company that came public in 2020. To date, the company has over 3,000 customers, including nearly 30% of the Fortune 500 as its customers. Snowflake's data lake stores unstructured and semistructured data that can then be used in analytics to create insights stored in its data warehouse. Snowflake's data sharing capability allows enterprises to easily buy and ingest data almost instantaneously compared with a traditionally months-long process. Overall, the company is known for the fact that all of its data solutions that can be hosted on various public clouds.
After a thorough review of the options trading surrounding Snowflake, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Snowflake Standing Right Now?
- Currently trading with a volume of 992,484, the SNOW's price is down by -0.5%, now at $156.65.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 22 days.
Expert Opinions on Snowflake
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $185.0.
- In a cautious move, an analyst from Keybanc downgraded its rating to Overweight, setting a price target of $185.
- An analyst from Rosenblatt upgraded its action to Buy with a price target of $185.
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.