Benzinga | Jan 25, 2022 11:04AM EST

Check Out What Whales Are Doing With SNOW

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 24 strange trades.

If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $152,940 and 21, calls, for a total amount of $2,288,943.

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 $200.0 to $435.0 for Snowflake over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $200.0 to $435.0 in 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 NEUTRAL 03/18/ $270.00 $352.1K 125 1.0K 22SNOW CALL SWEEP BULLISH 03/18/ $270.00 $233.0K 125 0 22SNOW CALL SWEEP BULLISH 03/18/ $270.00 $231.3K 125 820 22SNOW CALL SWEEP BULLISH 03/18/ $270.00 $174.1K 125 740 22SNOW CALL SWEEP BULLISH 03/18/ $270.00 $174.0K 125 260 22

Where Is Snowflake Standing Right Now?

* With a volume of 1,393,341, the price of SNOW is down -3.78% at $267.0.

* RSI indicators hint that the underlying stock may be oversold.

* Next earnings are expected to be released in 36 days.

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.