Snowflake (SNOW) options are pointing to a potential rebound toward the $330-$360 range, though near-term risks remain elevated, according to data published Tuesday.
As of 11:39 a.m. EDT on September 2, 2026, Snowflake was trading at $309.29, down 3.29%. Call volume reached 48,396 contracts, roughly 2.57 times put volume of 18,833, suggesting traders are positioning for upside despite the stock's recent weakness.
The most prominent options activity centers on call spreads. In the September 11 expiration, 9,737 contracts of $330/$355 call spreads and 9,434 contracts of $330/$360 call spreads were recorded. For the September 4 expiry, 8,038 contracts of $315/$375 call spreads were traded, along with 1,820 contracts of $370 calls.
From the current price level, the $330 target represents a 6.7% gain, while $355 and $360 imply increases of 14.8% and 16.4%, respectively. The $375 level would mark a 21.3% advance.
Three-month implied volatility stood at 57.27%, having fallen 0.58 percentage points. The 90/110 skew rose 1.80 percentage points to 2.68 percentage points, indicating a shift in risk perception. Put calendar spread activity was observed around strikes approximately 3.0% below the current price.
Technical indicators present a mixed picture. On the hourly timeframe, the signal reads Strong Sell, with an RSI of 33.95, bearish MACD, and an ADX of 32.39. Hourly support levels sit at $309.96, $306.80, and $302.30, while resistance is at $314.46, $317.62, and $322.12.
On the daily chart, the signal is Neutral with an RSI of 49.87. The weekly timeframe shows a Strong Buy signal, RSI at 68.61, and ADX at 59.03.
