Market Whales and Their Recent Bets on SNOW Options
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Snowflake (NYSE:SNOW) through significant options trading activity. The options activity includes 16 puts and 14 calls, with a total trade value of $734,930 and $606,623 respectively. Analysts have mixed ratings on SNOW, with price targets ranging from $130 to $175. The stock is currently down 3.42% at $111.59, and the next earnings report is due in 91 days.
August 28, 2024 | 4:16 pm
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NEGATIVE IMPACT
Significant bearish options activity on Snowflake (NYSE:SNOW) suggests potential downward pressure on the stock. Analysts have mixed ratings, with price targets ranging from $130 to $175. The stock is currently down 3.42% at $111.59.
The significant bearish options activity, with more puts than calls, suggests that investors expect the stock to decline. The current stock price is down 3.42%, and the mixed analyst ratings with a wide range of price targets add to the uncertainty. The bearish sentiment from options traders is likely to impact the stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100