What the Options Market Tells Us About Snowflake
Portfolio Pulse from Benzinga Insights
Benzinga's options scanner revealed significant bullish activity in Snowflake (NYSE:SNOW) options, with 37 unusual trades indicating a split sentiment of 59% bullish and 40% bearish. The trades suggest an expected price window of $100.0 to $250.0 for SNOW. The largest trades include bullish and bearish calls and puts with varying strike prices and expiration dates. Snowflake's current trading volume is 4,998,697, with a price increase of 1.67% to $153.86, and its RSI indicates it may be approaching oversold territory. An earnings announcement is expected in 47 days.
April 05, 2024 | 8:15 pm
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Significant bullish activity detected in Snowflake's options market, with a price expectation between $100 and $250. Current stock price up 1.67% to $153.86, with an earnings announcement expected soon.
The bullish options activity, especially the high volume of calls, indicates investor confidence in Snowflake's future performance. The expected price window of $100 to $250 shows optimism. However, the mixed sentiment and the approach towards an oversold RSI level introduce some caution. The upcoming earnings announcement could be a significant catalyst for the stock's movement.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100