Benzinga | Dec 13, 2021 09:58AM EST

What Are Whales Doing With Snowflake

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.

Today, Benzinga's options scanner spotted 12 options trades for Snowflake.

This isn't normal.

The overall sentiment of these big-money traders is split between 58.33% bullish and 41.67%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $37,549.00, and 11, calls, for a total amount of $443,929.00..

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 $300.0 to $400.0 for Snowflake over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Snowflake options trades today is 1838.2 with a total volume of 18,085.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Snowflake's big money trades within a strike price range of $300.0 to $400.0 over the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestSNOW CALL SWEEP BULLISH 12/17/ $380.00 $75.6K 1.5K 3.7K 21SNOW CALL SWEEP BULLISH 12/17/ $380.00 $73.8K 1.5K 2.0K 21SNOW CALL SWEEP BULLISH 12/17/ $400.00 $47.9K 5.7K 1.2K 21SNOW CALL SWEEP BULLISH 12/17/ $400.00 $41.2K 5.7K 3.3K 21SNOW PUT SWEEP BULLISH 01/28/ $300.00 $37.5K 0 88 22

Where Is Snowflake Standing Right Now?

* With a volume of 224,124.00, the price of SNOW is down -0.86% at $368.03.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 79 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 $465.0.

* JMP Securities has decided to maintain their Market Outperform rating on Snowflake, which currently sits at a price target of $385.0.

* Rosenblatt has decided to maintain their Neutral rating on Snowflake, which currently sits at a price target of $380.0.

* Piper Sandler has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $397.0.

* Barclays has decided to maintain their Equal-Weight rating on Snowflake, which currently sits at a price target of $393.0.

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.