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Looking At Snowflake's Recent Unusual Options Activity

A whale with a lot of money to spend has taken a noticeably bearish stance on Snowflake.

Looking at options history for Snowflake SNOW we detected 40 strange trades.

If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.

From the overall spotted trades, 18 are puts, for a total amount of $795,573 and 22, calls, for a total amount of $1,942,637.

What’s The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $195.0 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 $120.0 to $195.0 in the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW CALL TRADE BEARISH 11/18/22 $140.00 $190.0K 1.2K 346
SNOW CALL TRADE BULLISH 12/02/22 $180.00 $180.0K 1.4K 1.0K
SNOW PUT SWEEP BULLISH 12/16/22 $135.00 $178.5K 448 150
SNOW CALL TRADE BULLISH 12/02/22 $180.00 $175.0K 1.4K 2.0K
SNOW CALL SWEEP BEARISH 11/11/22 $140.00 $170.0K 2.2K 1.1K
Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW CALL TRADE BEARISH 11/18/22 $140.00 $190.0K 1.2K 346
SNOW CALL TRADE BULLISH 12/02/22 $180.00 $180.0K 1.4K 1.0K
SNOW PUT SWEEP BULLISH 12/16/22 $135.00 $178.5K 448 150
SNOW CALL TRADE BULLISH 12/02/22 $180.00 $175.0K 1.4K 2.0K
SNOW CALL SWEEP BEARISH 11/11/22 $140.00 $170.0K 2.2K 1.1K

Where Is Snowflake Standing Right Now?

  • With a volume of 4,888,005, the price of SNOW is up 15.46% at $145.78.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 20 days.

What The Experts Say On Snowflake:

  • Piper Sandler has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $218.
  • Macquarie downgraded its action to Neutral with a price target of $173
  • Mizuho has decided to maintain their Buy rating on Snowflake, which currently sits at 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.

If you want to stay updated on the latest options trades for Snowflake, Benzinga Pro gives you real-time options trades alerts.

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