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 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 7 are puts, for a total amount of $681,260 and 3, calls, for a total amount of $184,010.
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 $180.0 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 545.0 with a total volume of 691.00.
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 $120.0 to $180.0 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 | PUT | TRADE | BEARISH | 01/20/23 | $180.00 | $257.0K | 918 | 0 |
| SNOW | PUT | SWEEP | BULLISH | 01/20/23 | $140.00 | $131.2K | 524 | 50 |
| SNOW | PUT | SWEEP | BEARISH | 08/19/22 | $150.00 | $115.1K | 1.0K | 59 |
| SNOW | CALL | SWEEP | NEUTRAL | 02/17/23 | $155.00 | $97.9K | 4 | 32 |
| SNOW | PUT | TRADE | BULLISH | 09/16/22 | $125.00 | $90.1K | 291 | 100 |
Where Is Snowflake Standing Right Now?
- With a volume of 970,216, the price of SNOW is up 0.55% at $146.24.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 42 days.
What The Experts Say On Snowflake:
- Jefferies upgraded its action to Buy with a price target of $200
- Baird downgraded its action to Outperform with a price target of $200
- JP Morgan has decided to maintain their Neutral rating on Snowflake, which currently sits at a price target of $165.
- JP Morgan upgraded its action to Overweight with a price target of $165
- Redburn Partners downgraded its action to Neutral with a price target of $125
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.
