Check Out What Whales Are Doing With SNOW

Author: Benzinga Insights | July 12, 2024 02:46pm

Financial giants have made a conspicuous bullish move on Snowflake. Our analysis of options history for Snowflake (NYSE:SNOW) revealed 26 unusual trades.

Delving into the details, we found 42% of traders were bullish, while 34% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $928,200, and 13 were calls, valued at $1,319,206.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $80.0 to $230.0 for Snowflake over the recent three months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Snowflake's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Snowflake's significant trades, within a strike price range of $80.0 to $230.0, over the past month.

Snowflake Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
SNOW	CALL	TRADE	BEARISH	01/16/26	$13.9	$13.45	$13.6	$220.00	$476.0K	799	2
SNOW	PUT	TRADE	BULLISH	08/16/24	$4.5	$4.4	$4.4	$130.00	$330.0K	2.5K	1.0K
SNOW	CALL	SWEEP	BULLISH	08/16/24	$7.75	$7.55	$7.6	$135.00	$197.6K	1.5K	180
SNOW	CALL	SWEEP	BEARISH	01/17/25	$18.45	$18.25	$18.25	$140.00	$164.2K	1.7K	22
SNOW	PUT	TRADE	BULLISH	10/18/24	$7.9	$7.75	$7.75	$125.00	$108.5K	476	38

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.

Current Position of Snowflake

• With a volume of 5,782,054, the price of SNOW is down -2.56% at $134.64.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 40 days.

What The Experts Say On Snowflake

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $198.75.

• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Snowflake, targeting a price of $200.
• An analyst from Needham downgraded its action to Buy with a price target of $210.
• Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Snowflake, targeting a price of $165.
• An analyst from Goldman Sachs has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $220.

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.

Posted In: SNOW