Investors with a lot of money to spend have taken a bearish stance on Cadence Design Sys CDNS.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CDNS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Cadence Design Sys.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 72%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $74,530, and 10, calls, for a total amount of $509,282.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $310.0 for Cadence Design Sys during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Cadence Design Sys stands at 430.17, with a total volume reaching 441.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cadence Design Sys, situated within the strike price corridor from $200.0 to $310.0, throughout the last 30 days.
Cadence Design Sys Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CDNS | CALL | TRADE | BEARISH | 01/17/25 | $250.00 | $84.2K | 259 | 12 |
| CDNS | PUT | TRADE | BEARISH | 01/17/25 | $290.00 | $74.5K | 57 | 30 |
| CDNS | CALL | SWEEP | BULLISH | 03/15/24 | $295.00 | $67.5K | 1.1K | 102 |
| CDNS | CALL | TRADE | BEARISH | 01/17/25 | $200.00 | $54.8K | 321 | 10 |
| CDNS | CALL | TRADE | BEARISH | 01/17/25 | $200.00 | $54.1K | 321 | 5 |
About Cadence Design Sys
Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enable system-level analysis and verification solutions. Cadence's comprehensive portfolio is benefiting from a mutual convergence of semiconductor companies moving up-stack toward systems-like companies, and systems companies moving down-stack toward in-house semiconductor design. The resulting expansion in EDA customers, alongside secular digitalization of various end markets, benefits EDA vendors like Cadence.
In light of the recent options history for Cadence Design Sys, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Cadence Design Sys
- Trading volume stands at 639,180, with CDNS's price up by 0.96%, positioned at $293.31.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 10 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cadence Design Sys, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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