Whales with a lot of money to spend have taken a noticeably bullish stance on Snowflake.
Looking at options history for Snowflake (NYSE:SNOW) we detected 18 trades.
If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 27% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $304,342 and 13, calls, for a total amount of $621,715.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $195.0 for Snowflake over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Snowflake options trades today is 1086.2 with a total volume of 1,821.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Snowflake's big money trades within a strike price range of $125.0 to $195.0 over the last 30 days.
Snowflake 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | SWEEP | BULLISH | 08/16/24 | $52.8 | $52.5 | $52.5 | $195.00 | $157.5K | 206 | 0 |
| SNOW | CALL | TRADE | BULLISH | 07/19/24 | $1.95 | $1.73 | $1.95 | $150.00 | $97.5K | 4.5K | 962 |
| SNOW | CALL | TRADE | BULLISH | 01/17/25 | $30.25 | $29.75 | $30.25 | $125.00 | $90.7K | 402 | 7 |
| SNOW | CALL | TRADE | BULLISH | 06/20/25 | $35.7 | $34.9 | $35.47 | $130.00 | $70.9K | 403 | 21 |
| SNOW | PUT | TRADE | BULLISH | 06/20/25 | $21.65 | $21.6 | $21.6 | $140.00 | $54.0K | 790 | 0 |
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.
Following our analysis of the options activities associated with Snowflake, we pivot to a closer look at the company's own performance.
Present Market Standing of Snowflake
- With a volume of 2,672,681, the price of SNOW is down -0.72% at $141.74.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 50 days.
Professional Analyst Ratings for Snowflake
In the last month, 5 experts released ratings on this stock with an average target price of $204.6.
- An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $210.
- An analyst from RBC Capital persists with their Outperform rating on Snowflake, maintaining a target price of $183.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $210.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Snowflake, targeting a price of $200.
- An analyst from Goldman Sachs persists with their Buy rating on Snowflake, maintaining a target price of $220.
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