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Deep-pocketed investors have adopted a bearish approach towards Snowflake (NYSE:SNOW), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Snowflake. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 47% leaning bullish and 52% bearish. Among these notable options, 8 are puts, totaling $1,159,623, and 11 are calls, amounting to $361,524.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $100.0 to $200.0 for Snowflake over the recent three months.
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $100.0 to $200.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | PUT | TRADE | BULLISH | 11/15/24 | $19.55 | $19.1 | $19.15 | $150.00 | $861.7K | 824 | 450 |
| SNOW | PUT | SWEEP | BEARISH | 01/17/25 | $4.85 | $4.75 | $4.85 | $100.00 | $111.5K | 3.9K | 38 |
| SNOW | CALL | SWEEP | BEARISH | 04/26/24 | $1.24 | $1.09 | $1.14 | $162.50 | $43.7K | 154 | 3 |
| SNOW | CALL | SWEEP | BULLISH | 09/20/24 | $21.0 | $20.6 | $20.95 | $150.00 | $41.9K | 642 | 20 |
| SNOW | CALL | TRADE | BEARISH | 09/20/24 | $13.0 | $12.85 | $12.85 | $170.00 | $38.5K | 318 | 32 |
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.
In light of the recent options history for Snowflake, it's now appropriate to focus on the company itself. We aim to explore its current performance.
3 market experts have recently issued ratings for this stock, with a consensus target price of $165.0.
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
