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Investors with a lot of money to spend have taken a bullish stance on Snowflake (NYSE:SNOW).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNOW, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 15 uncommon options trades for Snowflake.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 26%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $152,875, and 12 are calls, for a total amount of $518,158.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $135.0 to $210.0 for Snowflake over the last 3 months.
In today's trading context, the average open interest for options of Snowflake stands at 1292.91, with a total volume reaching 780.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Snowflake, situated within the strike price corridor from $135.0 to $210.0, throughout the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNOW | CALL | TRADE | BEARISH | 08/16/24 | $3.35 | $3.2 | $3.25 | $210.00 | $109.5K | 1.0K | 0 |
| SNOW | CALL | SWEEP | BULLISH | 06/21/24 | $12.45 | $12.2 | $12.45 | $160.00 | $62.2K | 6.7K | 262 |
| SNOW | PUT | TRADE | BULLISH | 06/21/24 | $40.45 | $40.2 | $40.2 | $200.00 | $60.3K | 847 | 40 |
| SNOW | PUT | TRADE | BULLISH | 06/21/24 | $16.55 | $16.4 | $16.4 | $170.00 | $57.4K | 2.4K | 37 |
| SNOW | CALL | SWEEP | BEARISH | 08/16/24 | $15.05 | $15.0 | $15.0 | $165.00 | $55.5K | 406 | 41 |
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.
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.
Posted In: SNOW
