Looking Back on Unusual Options Activity & Dark Pool Volumes in Snowflake Inc. (SNOW)

On August 20th, 2021, among the underlying components of the NYSE, we saw unusual or noteworthy options trading volume and activity in Snowflake Inc. (SNOW), which opened today at $300.00. This report comes after our previous report from last week on the date of the activity itself.

On August 20th, 2021, Snowflake, Inc. was down as much as 11% with various analysts suggesting that its growth was slowing.  In spite of that, there were more than 100,000 transactions in the morning session, with 9,000 contracts on weekly call options traded, along with bullish long-dated put options contracts sold at the bid, dated for January 20th, 2023, seen below:

The sold puts for expirations in 2023 that came around the August 20th orders and thereafter.

Below are the aforementioned three orders of weekly contracts purchased, dated for August 27th, 2021, at the 260 and 280 strike call options, together amounting to 9,000 contracts, representing 900,000 shares.  You may also click here to view the Flow itself on unusualwhales.com, which alerted to these orders the day they were traded.

The three unusual orders for weekly expiration, OTM SNOW call options.

These orders were detected on August 20th, 2021 at the time of their trading, when Snowflake, Inc.’s stock price was at or around $266.67; at the time of the option contracts’ expirations, its stock price was at or around $297.71.  

The 260 strike call option was purchased for $8.50 and the 280 strike call option for $3.00; these contracts had a maximum historical price of $45.60 and $27.00, respectively, realizing approximately 536% and 900% gains.

Just prior to these orders on August 18th, 2021, and on the same day as the orders, August 20th, seen below on the Unusual Whales dark pool flow, there were a series of noteworthy units traded on the dark pool.  There were $46,000,000 worth of premium traded on August 18th, ahead of the above unusual options activity on the 20th.

Dark pool flow movements on SNOW prior to the options trades.

Recent Unusual or Noteworthy Dark Pool Activity in Snowflake Inc. (SNOW)

Seen below, recent unusual activity has amounted to over 2,399,571 units traded on August 31st, 2021.  The previous high on the dark pool was on August 26th, 2021, at 1,014,821 units.  Today, September 2nd, 2021, there have been 364, 945 units traded thus far.

Above is SNOW's price in blue with dark pool volumes as gray bars.

For further information on the unusual options activity of DKNG and SNOW visit unusualwhales.com.