February 8, 2023

Snowflake Inc (NYSE:SNOW) – Check Out What Whales Are Doing With SNOW

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

Looking at options history for Snowflake (NYSE:SNOW) we detected 19 strange trades.

If we consider the specifics of each trade, it is accurate to state that 68% of the investors opened trades with bullish expectations and 31% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $138,978 and 15, calls, for a total amount of $1,272,548.

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 $200.0 to $350.0 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 $200.0 to $350.0 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 SWEEP BULLISH 03/18/22 $320.00 $213.8K 86 72
SNOW CALL SWEEP BEARISH 05/20/22 $335.00 $171.0K 57 50
SNOW CALL SWEEP BULLISH 01/21/22 $240.00 $162.8K 234 17
SNOW CALL TRADE BULLISH 02/11/22 $350.00 $108.0K 3 106
SNOW CALL SWEEP BULLISH 03/18/22 $340.00 $89.7K 153 109

Where Is Snowflake Standing Right Now?

  • With a volume of 2,591,573, the price of SNOW is down -2.0% at $331.97.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 58 days.

What The Experts Say On Snowflake:

  • Credit Suisse has decided to maintain their Outperform rating on Snowflake, which currently sits at a price target of $465.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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