Deep-pocketed investors have adopted a bearish approach towards Snowflake (NYSE:SNOW), 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 86 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 39% leaning bullish and 52% bearish. Among these notable options, 62 are puts, totaling $2,880,105, and 24 are calls, amounting to $1,076,331.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $200.0 for Snowflake, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Snowflake stands at 930.06, with a total volume reaching 10,549.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Snowflake, situated within the strike price corridor from $80.0 to $200.0, throughout 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 | 12/20/24 | $43.95 | $43.8 | $43.95 | $170.00 | $127.4K | 5 | 29 |
| SNOW | PUT | TRADE | BULLISH | 02/21/25 | $14.05 | $14.0 | $14.0 | $130.00 | $106.4K | 509 | 164 |
| SNOW | CALL | SWEEP | BULLISH | 01/17/25 | $2.56 | $2.5 | $2.56 | $160.00 | $102.4K | 3.2K | 533 |
| SNOW | PUT | SWEEP | NEUTRAL | 01/17/25 | $19.3 | $19.25 | $19.25 | $140.00 | $88.6K | 1.8K | 98 |
| SNOW | PUT | SWEEP | BEARISH | 11/22/24 | $4.9 | $4.85 | $4.9 | $122.00 | $79.3K | 211 | 197 |
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.
Having examined the options trading patterns of Snowflake, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Snowflake Standing Right Now?
- Trading volume stands at 3,071,577, with SNOW's price up by 0.63%, positioned at $126.75.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 2 days.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Snowflake options trades with real-time alerts from Benzinga Pro.
