Notable Monday Option Activity: UPST, SNOW, QCOM

Snowflake (SNOW) and Qualcomm (QCOM) are experiencing notably high options trading volumes today, with SNOW's options activity representing approximately 55% of its average daily share volume and QCOM's at 54.2%. Significant interest is observed in SNOW's August 2025 $225 call options, with 2,229 contracts traded, suggesting bullish positioning, while QCOM's August 2025 $140 put options have seen 5,540 contracts traded, indicating potential bearish sentiment or hedging activity around that price level.

Analysis

Snowflake Inc. (SNOW) and Qualcomm Inc. (QCOM) are both exhibiting unusually high options market activity, with volumes equating to approximately 55% and 54.2% of their respective average daily share volumes. The positioning in these names appears divergent based on the specific contracts attracting the most interest. For SNOW, significant volume is concentrated in the August 2025 $225 strike call options, with 2,229 contracts traded, indicating bullish speculation on substantial long-term price appreciation. Conversely, QCOM has seen a high concentration of activity in the August 2025 $140 strike put options, with 5,540 contracts changing hands. This level of put buying suggests either outright bearish bets on the stock's long-term performance or, more likely, significant institutional hedging activity to protect existing long positions against a potential decline below the $140 level.

Key Decisions for Investors

• Investors should investigate the potential catalysts driving the concentrated bullish bets on SNOW's August 2025 $225 calls, as this activity signals conviction in significant future upside.
• The substantial volume in QCOM's August 2025 $140 puts warrants a review of risk exposure; this could signal institutional hedging or growing bearish sentiment, suggesting caution for long-only positions.