Looking At Snowflake's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Snowflake (NYSE:SNOW), with a bearish stance being taken by a majority of investors. Of the 18 strange trades detected, 55% were bearish and 44% bullish. The total amount for puts was $505,543 and for calls, $337,468. Whales have been targeting a price range from $135.0 to $400.0 for Snowflake over the last 3 months. B of A Securities and Mizuho have downgraded their actions on Snowflake, while Piper Sandler maintains an Overweight rating.
October 30, 2023 | 8:00 pm
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Snowflake has seen unusual options activity, with a bearish stance being taken by a majority of investors. Analysts have mixed opinions, with some downgrading their actions and others maintaining an Overweight rating.
The bearish stance taken by a majority of investors in the unusual options activity indicates a potential decrease in Snowflake's stock price. The mixed analyst opinions further add to the uncertainty surrounding the stock's performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100