A whale with a lot of money to spend has taken a noticeably bearish stance on Snowflake.
Looking at options history for Snowflake (NYSE:SNOW) we detected 29 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $1,283,042 and 13, calls, for a total amount of $772,637.
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 $80.0 to $295.0 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 451.48 with a total volume of 3,566.00.
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 $80.0 to $295.0 over 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 | SWEEP | BEARISH | 07/15/22 | $115.00 | $268.0K | 233 | 398 |
| SNOW | PUT | TRADE | BULLISH | 06/17/22 | $140.00 | $235.2K | 665 | 98 |
| SNOW | PUT | SWEEP | BULLISH | 06/17/22 | $210.00 | $185.6K | 842 | 0 |
| SNOW | PUT | SWEEP | BEARISH | 09/16/22 | $120.00 | $142.8K | 335 | 76 |
| SNOW | PUT | TRADE | BULLISH | 07/21/23 | $175.00 | $101.2K | 3 | 15 |
Where Is Snowflake Standing Right Now?
- With a volume of 2,664,639, the price of SNOW is up 4.72% at $119.78.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 68 days.
What The Experts Say On Snowflake:
- BTIG has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $158.
- JMP Securities has decided to maintain their Market Outperform rating on Snowflake, which currently sits at a price target of $180.
- UBS has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $165.
- Canaccord Genuity has decided to maintain their Hold rating on Snowflake, which currently sits at a price target of $185.
- Cowen & Co. has decided to maintain their Outperform rating on Snowflake, which currently sits at a price target of $280.
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.
