SNOW is a new IPO and thinly traded therefore highly volatile. The run up into earnings created a favorable price for a short setup. A put butterfly centered around 280, 15 wide may work out as a good earnings play.
Comment:
SNOW earning trade is a huge bust. Never bearish before E for a high short interest stock (20%) while growth is still good. A new 20 wide IC around 325 for next week may bring some repair to the first idea, mainly premium-selling as it retraces back to the .38 fib level.