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Snowflake (SNOW) Hot Call Buying & Breakout Trigger

Snowflake (SNOW) Hot Call Buying & Breakout Trigger

by | Aug 3, 2021 | Open Interest Alerts

Snowflake (SNOW) calls hot all morning after triggering a breakout at $276.50, a name we recently featured as a bull technical set-up and also wrote up due to the continuous bullish upside call buying. That action continues today near-term and 550 November $305 calls bought for around $1M. SNOW is breaking out of a long bottoming pattern and the flag consolidation that followed, next target a 50% retrace at $308.