Snowflake Unusual Options Activity For May 14
Portfolio Pulse from Benzinga Insights
Snowflake (NYSE:SNOW) has seen unusual options activity indicating a bullish stance by large investors, with a mix of 53% bullish and 26% bearish sentiment among the trades. Notable options trades include both calls and puts with a target price range of $135.0 to $210.0. The company, known for its data lake, warehousing, and sharing capabilities, has a current stock price of $160.95, showing a 0.73% increase, with RSI indicators suggesting it may be approaching overbought territory. Next earnings are expected in 8 days.
May 14, 2024 | 4:01 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Unusual options activity in Snowflake indicates a bullish sentiment among large investors, with a significant volume of calls over puts. The stock is currently up, but RSI suggests it may be overbought. Earnings are expected soon, which could influence stock price movements.
The bullish sentiment from large investors, as indicated by the unusual options activity, typically suggests confidence in the stock's future performance. However, the near overbought RSI levels could temper short-term gains, especially with earnings on the horizon which could either validate the bullish sentiment or cause a reevaluation. The significant volume of calls over puts reinforces the bullish outlook, but the market's reaction to the upcoming earnings will be crucial.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100