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Looking At Snowflake's Recent Whale Trades

By Benzinga Insights

Someone with a lot of money to spend has taken a bullish stance on Snowflake (NYSE:SNOW).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale 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 60% bullish and 40%, bearish.

Out of all of the special options we uncovered, 9 are puts, for a total amount of $461,732, and 6 are calls, for a total amount of $387,680.

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 $100.0 to $215.0 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 $100.0 to $215.0 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 05/13/22 $150.00 $200.0K 794 796
SNOW PUT SWEEP BULLISH 06/17/22 $115.00 $116.1K 822 210
SNOW PUT TRADE BEARISH 06/17/22 $115.00 $110.0K 822 410
SNOW PUT TRADE NEUTRAL 11/18/22 $210.00 $57.7K 1.1K 8
SNOW CALL TRADE BULLISH 06/17/22 $200.00 $44.8K 1.7K 271

Where Is Snowflake Standing Right Now?

  • With a volume of 2,687,044, the price of SNOW is up 10.74% at $155.7.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 12 days.

What The Experts Say On Snowflake:

  • Goldman Sachs has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $289.
  • Wolfe Research downgraded its action to Outperform with a price target of $250

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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.

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