Whales with a lot of money to spend have taken a noticeably bearish stance on Synopsys.
Looking at options history for Synopsys SNPS we detected 43 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 27 are puts, for a total amount of $1,238,701 and 16, calls, for a total amount of $1,797,679.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $450.0 to $640.0 for Synopsys over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Synopsys options trades today is 302.09 with a total volume of 4,983.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Synopsys's big money trades within a strike price range of $450.0 to $640.0 over the last 30 days.
Synopsys Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNPS | CALL | TRADE | BEARISH | 12/20/24 | $640.00 | $815.9K | 504 | 201 |
| SNPS | PUT | SWEEP | BEARISH | 06/21/24 | $550.00 | $290.7K | 51 | 313 |
| SNPS | CALL | SWEEP | BEARISH | 01/17/25 | $450.00 | $257.0K | 1 | 30 |
| SNPS | CALL | SWEEP | NEUTRAL | 01/17/25 | $450.00 | $128.1K | 1 | 9 |
| SNPS | PUT | TRADE | BEARISH | 06/21/24 | $550.00 | $127.1K | 51 | 475 |
About Synopsys
Synopsys is a provider of electronic design automation software, intellectual property, and software integrity products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. The firm's growing SI business allows customers to continuously manage and test the code base for security and quality. Synopsys' 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 chip design. The resulting expansion in EDA customers alongside secular digitalization of various end markets benefits EDA vendors like Synopsys.
After a thorough review of the options trading surrounding Synopsys, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Synopsys's Current Market Status
- With a volume of 802,864, the price of SNPS is up 0.22% at $541.18.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 19 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 Synopsys, 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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