Options trading signals a potential 12% swing in Snowflake Inc. shares following the company’s earnings release scheduled for Sept. 2 after market close.
The forecast is based on options-implied volatility compiled by Bloomberg, which typically provides a market-based estimate of expected price movement around corporate earnings. Snowflake’s stock has historically exhibited volatility that outpaces these implied levels, with actual price changes exceeding predictions in four of the past eight quarterly reports.
In the most recent quarter on May 27, options had priced in a 12.2% move, but the stock surged 41.1%. Earlier this year, on Feb. 25, an 11% implied move preceded a 2.3% decline. The pattern of actual volatility surpassing implied levels has recurred across multiple reporting periods, including a 25.1% gain on Aug. 27, 2025, against an 11.3% implied move, and a 36.6% jump on Nov. 20, 2024, versus a 12% implied move.
Conversely, the stock has also underperformed implied expectations, such as a 9.9% drop on Feb. 26, 2025, despite a 12.2% implied move, and a 9.3% decline on Aug. 21, 2024, against an 11.6% implied move. The December 2025 earnings release saw a 6.2% decline versus a 9.9% implied move.
Options traders and investors will closely monitor Snowflake’s guidance, revenue growth, and cloud consumption trends when the results are released.
