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What Are Whales Doing With Snowflake

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 40 strange trades.

Benzinga · 06/10/2022 14:52

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 40 strange trades.

If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.

From the overall spotted trades, 28 are puts, for a total amount of $1,435,141 and 12, calls, for a total amount of $633,049.

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 $60.0 to $190.0 for Snowflake over the last 3 months.

Volume & Open Interest Development

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 $60.0 to $190.0 in the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW PUT TRADE NEUTRAL 07/15/22 $140.00 $202.4K 1.6K 117
SNOW CALL SWEEP BEARISH 09/16/22 $100.00 $139.4K 19 61
SNOW PUT SWEEP BEARISH 09/16/22 $100.00 $136.0K 793 1
SNOW PUT TRADE NEUTRAL 06/10/22 $130.00 $96.3K 2.1K 765
SNOW PUT SWEEP BULLISH 09/16/22 $100.00 $84.0K 793 271

Where Is Snowflake Standing Right Now?

  • With a volume of 5,477,335, the price of SNOW is down -9.52% at $120.54.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 75 days.

What The Experts Say On Snowflake:

  • Oppenheimer has decided to maintain their Outperform rating on Snowflake, which currently sits at a price target of $230.
  • Mizuho has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $200.
  • Canaccord Genuity has decided to maintain their Hold rating on Snowflake, which currently sits at a price target of $185.
  • Raymond James downgraded its action to Outperform with a price target of $184
  • Morgan Stanley has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $295.

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.