The No. 1 AI Stock of 2024 (Not Nvidia)

It's not Nvidia, Meta Platforms, Alphabet, or Amazon. But thanks to a recent major deal, an under-the-radar stock could become the No. 1 winner of the AI boom. "This company just teamed up with one of the biggest power players in the AI industry... yet you can still buy it for just one-twelfth the price of Nvidia -- the time to buy is NOW," says Marc Chaikin.

The Next Big Leap in AI: "IMPERIUM"

This Is What Whales Are Betting On Snowflake

Benzinga Insights
November 28, 2022

Someone with a lot of money to spend has taken a bearish stance on Snowflake (NYSE:SNOW).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SNOW, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 32 uncommon options trades for Snowflake.

This isn't normal.

The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $807,858, and 15 are calls, for a total amount of $624,099.

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 $130.0 to $250.0 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 $130.0 to $250.0 in the last 30 days.

Snowflake Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
SNOW PUT SWEEP BEARISH 12/16/22 $142.00 $164.6K 14 3
SNOW PUT SWEEP BULLISH 03/17/23 $130.00 $63.2K 282 0
SNOW CALL SWEEP BEARISH 01/20/23 $200.00 $63.0K 3.6K 337
SNOW PUT SWEEP NEUTRAL 12/16/22 $145.00 $59.3K 936 71
SNOW CALL SWEEP BEARISH 01/20/23 $200.00 $55.4K 3.6K 341

Where Is Snowflake Standing Right Now?

  • With a volume of 1,821,967, the price of SNOW is down -1.26% at $142.9.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 2 days.

What The Experts Say On Snowflake:

  • Morgan Stanley has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $248.
  • Macquarie downgraded its action to Neutral with a price target of $173
  • Mizuho has decided to maintain their Buy rating on Snowflake, which currently sits at a price target of $185.
  • Barclays has decided to maintain their Overweight rating on Snowflake, which currently sits at a price target of $200.

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 want to stay updated on the latest options trades for Snowflake, Benzinga Pro gives you real-time options trades alerts.

Continue Reading...

Popular

Too much Atlantic in Atlantic City: Beach erosion has casinos desperately seeking sand by summer

ATLANTIC CITY, N.J. (AP) — The ocean and beaches have always been a part of Atlantic City's identity: from salt water taffy to Miss America bathing beauties to the name of the place itself, the city has been marketed as a place to have fun by the sea.

The Crypto Melt-up Has Begun - Ad

This crypto bull market is on the verge of a full-on panic. But not the kind that crashes prices. Instead, this appears to be a Melt-Up that drives Bitcoin and other cryptos into the stratosphere. Now, I've found a set of smaller cryptos that I think are going to soar in this crypto Melt-Up.

Elon Musk Uncommitted In Biden-Trump Race, Reveals Who He's 'Leaning Away From'

Elon Musk was the subject of reports that Donald Trump asked him for money. Musk cleared the air on the meeting and also who he is leaning towards voting for in the 2024 election.

Needham Analyst John Todaro \'Bullish\' On Hut 8 Stock

Needham analyst John Todaro has initiated coverage on Hut 8 Corp. with a Buy rating and a price target of $12.00 heading into the Bitcoin halving event. 

MUST SEE By March 20: Beware Biden's Trojan Horse - Ad

It could usher in the most radical transformation of our money we've ever seen in America's history... trigger a surprise election outcome in the coming months... and fundamentally alter the value of your savings forever. One 24-year market veteran warns that most Americans simply aren't prepared for what's coming on March 20.

Crafts retailer Joann files for Chapter 11 bankruptcy protection

NEW YORK (AP) — Fabric and crafts retailer Joann has filed for Chapter 11 bankruptcy protection, as consumers continue to cut back on discretionary spending.

Coming Soon: Federal QR Codes? - Ad

Thanks to a major overhaul of the US banking system taking place today, a QR code just like this one could soon be mandatory for millions of Americans and it has the backing of the White House, Federal Reserve and Treasury. What changes do these powerful organizations have planned for your money?

This Masterclass Will Redefine Your Approach to Crypto Trading - Ad

Whether you're a seasoned trader or new to crypto, this method is designed for all, requiring no previous experience or in-depth knowledge of the crypto market. Don't miss out -- spots are filling rapidly for this once-in-a-lifetime event.

Tesla Settles Racial Discrimination Lawsuit With Former Employee

EV giant Tesla Inc (NASDAQ: TSLA) settled a racial discrimination lawsuit with former employee Owen Diaz.

Regime Change At Federal Reserve? - Ad

The Fed just began the rollout of a new technology that'll "shake the US financial system". It'll likely go down in history as the biggest change to money since Western Union launched its "lightning lines" in the early days of the telegraph.

Top 3 Consumer Stocks That Could Lead To Your Biggest Gains This Quarter

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.

Elon Musk Says He Won't Donate To Either Presidential Candidate After A Private Meeting With Trump: 'Just To Be Super Clear'

Following a recent meeting with former President Donald Trump, Elon Musk has announced that he will not be making any financial contributions to either the Republican or Democratic candidates in the upcoming 2024 U.S. presidential election.

Without Titanium, U.S. National Security Is in Peril - Ad

The U.S. Geological Survey added titanium to its recent list of minerals vital to our economic and national security. Unfortunately, the U.S. produces nearly no titanium. Most production lies with our geopolitical foes, Russia and China. That's why more North American titanium is urgently needed.

Top 5 Tech Stocks That Could Blast Off In March

The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.

The No. 1 Crypto for 2024 - Ad

It's expected to soar 20X bigger than Bitcoin.

StoneCo Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

StoneCo Ltd. (NASDAQ: STNE) is expected to release its financial results for the fourth quarter, after the closing bell on March 18, 2024.

'Don't Be Afraid': Top Crypto Analyst Shares His Plan To Buy Dogecoin, Shiba Inu And Other Altcoins For Potential 5X Gains Post Correction

Crypto analyst Michael van de Poppe has advised investors to remain calm despite the recent dip in Bitcoin’s (CRYPTO: BTC) value. The analyst has suggested that these market corrections could be viewed as buying opportunities for traders.

This Is Where the World's Richest Men Are Putting Their Money - Ad

Bill Gates, Peter Thiel, Mark Zuckerberg -- they're pouring millions into something we call Imperium technology. And you can invest in this tech alongside them starting with just $10. Bill Gates called Imperium "one of the most powerful technologies of the 21st century."

These 3 Energy Stocks With Over 5% Dividend Yields Are Recommended By Wall Street's Most Accurate Analysts

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

On Location at My No. 1 A.I. Stock Pick - Ad

In this video, I go on location to share the name, ticker symbol, and story behind my #1 A.I. stock pick. I can almost guarantee you've never heard of this company -- but soon you, your friends, and your family will likely all be using it.

Revving Up Rights: Volkswagen Tennessee Employees Push For UAW Unionization

Volkswagen workers in Chattanooga, Tennessee, have filed a petition with the National Labor Relations Board for a vote to join the UAW after a supermajority of Volkswagen workers have signed union cards in just 100 days.

Radical Change Inside American Banks - Ad

We could see some seismic changes in the banking system, changing the way you access your social security income, pay your taxes and spend your paycheck. That's why it's so crucial you understand these changes, and how they'll inevitably impact you, as soon as possible.

McDonald's system outages have been reported worldwide. The chain says they're getting fixed

LONDON (AP) — System failures at McDonald's were reported worldwide Friday, shuttering some restaurants for hours and leading to social media complaints from customers, in what the fast food chain called a “technology outage” that was being fixed.

Rupert Murdoch, 92, plans to marry for 5th time

Media magnate Rupert Murdoch, who turns 93 next week, has been married four times — and is engaged again, his representative said Saturday.

Should You Buy Bitcoin in 2024? [Expert's Shocking Answer] - Ad

Bitcoin minted 100,000 millionaires and if you're not one of them, that ship has sailed. But there's another millionaire-minting crypto at our doorstep... research shows this coin could be 20X bigger than Bitcoin by the end of the decade. With crypto starting to heat up again, this could be the perfect time to get in.

Boeing tells airlines to check pilot seats after report that an accidental shift led plane to plunge

Boeing is telling airlines to inspect switches on pilots' seats in its 787 Dreamliner jets after a published report said an accidental cockpit seat movement likely caused of a LATAM Airlines plane flying to New Zealand.

Put $20 in This Coin Before April 19, 2024 - Ad

The entire crypto market is going to experience a lucrative event on April 19th, 2024. And one coin is set to soar 20X bigger than Bitcoin.

Nikki Haley says she's suspending her presidential campaign. What does that mean?

WASHINGTON (AP) — When said she would withdraw from the 2024 presidential race following her underwhelming showing on Super Tuesday, she did so using a phrase that would seem at odds with the finality of her announcement.

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright activatrade.ca
Privacy Policy | Terms of Service