Snowflake options flow points to rebound toward $330–$360, but near-term risk remains

Investing.com reports that Snowflake's options flow suggests a potential rebound toward the $330–$360 range, but warns of near-term risks. Currently priced at $309.29, the stock has dropped 3.29% as of Wednesday, September 2, 2026, at 11:39 AM EDT. Call volume is 2.57 times that of put volume, and downside skew has increased. The market anticipates a rebound, with traders targeting $330 initially, with potential gains between $355 and $375.

However, technical indicators suggest the initial move could still be down. Key resistance levels include $314.46, $317.62, and $322.12, while hourly support is near $309.96, $306.80, and $302.30. If the price breaks below $306, particularly $302, the $300 put activity may gain more importance. Traders are bullish on a short-term rebound to $320–$330 but remain cautious about a higher upside.