Investors with a lot of money to spend have taken a bearish stance on Synopsys SNPS.
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 SNPS, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 9 options trades for Synopsys.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $51,480, and 8, calls, for a total amount of $324,684.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $550.0 and $580.0 for Synopsys, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Synopsys's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Synopsys's substantial trades, within a strike price spectrum from $550.0 to $580.0 over the preceding 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 | SWEEP | BULLISH | 03/15/24 | $550.00 | $59.6K | 354 | 46 |
| SNPS | CALL | TRADE | NEUTRAL | 03/15/24 | $550.00 | $56.0K | 354 | 105 |
| SNPS | PUT | SWEEP | BEARISH | 01/17/25 | $550.00 | $51.4K | 15 | 9 |
| SNPS | CALL | TRADE | BEARISH | 06/21/24 | $560.00 | $42.0K | 87 | 12 |
| SNPS | CALL | SWEEP | BEARISH | 02/16/24 | $580.00 | $39.0K | 599 | 102 |
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.
Following our analysis of the options activities associated with Synopsys, we pivot to a closer look at the company's own performance.
Present Market Standing of Synopsys
- With a volume of 131,567, the price of SNPS is up 0.51% at $562.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 15 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Synopsys with Benzinga Pro for real-time alerts.
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