← Option Trades · Experimental · High Risk
SNOW: Long call
BullishSnowflake
A 34% grower guided to 30%, reporting into a tape that just marked it down.
By Atul Ghandhi · Updated August 25, 2026 (2026-08-25)
The Trade
| Leg | Type | Strike | Expiry |
|---|---|---|---|
| buy | call | $340.00 | Fri, Sep 4 |
Struck against: $322.78 ▼ 3.00% (Aug 24 close, per StockAnalysis.com)
Catalyst: Q2 FY2027 earnings, Wednesday Sep 2 after the close
New to this structure? Calls and puts explained →
The Exits
- Event hold
- Hold through the September 2 print. The premium can go to zero on a soft guide, and that is the accepted risk.
- Profit order
- Sell into the first hour of September 3 on any gap above $345.
- Time stop
- Out by September 3 close either way. Friday is jobs day and this trade wants no part of it.
Sizing reality: One contract controls 100 shares, about $32,000 of notional against the Aug 24 close.
Why This Trade
Snowflake reports September 2 after the close. Product revenue grew 34% last quarter, and the full-year guide implies about 30% for the back half. Management set a bar it has been clearing.
The stock fell 3% on Monday with the rest of high-multiple software. Nothing in the report changed. The entry got cheaper while the setup did not.
Q2 is guided to $1,417.5 million of product revenue at the midpoint, against the $1,334.3 million just printed in Q1. The guide asks for the kind of sequential growth the company has been delivering.
The $340 strike needs 5.3% from the entry. That cuts both ways: this name punishes a soft guide with double-digit drops, and the call dies with one.
The Chain
The Fri, Sep 4 strikes this trade lives in. Cboe delayed quotes as of 2026-08-25 16:33:46 ET, with SNOW at $317.87. The page refreshes the numbers hourly.
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | · | Bid | Ask | Last |
| 20.65 | 21.70 | 21.17 | 320.00 | 21.95 | 23.25 | 22.72 |
| 16.10 | 17.65 | 16.75 | 330.00 | 27.90 | 29.05 | 28.94 |
| 12.75 | 13.85 | 12.97 | 340.00 | 34.15 | 35.55 | 30.18 |
| 9.85 | 10.80 | 9.84 | 350.00 | 41.25 | 42.60 | 37.55 |
| 7.50 | 8.20 | 8.00 | 360.00 | 47.75 | 51.95 | 48.83 |