Financial giants have made a conspicuous bullish move on Cadence Design Sys. Our analysis of options history for Cadence Design Sys CDNS revealed 11 unusual trades.
Delving into the details, we found 54% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $241,830, and 8 were calls, valued at $448,670.
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 $240.0 and $330.0 for Cadence Design Sys, spanning the last three months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cadence Design Sys's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cadence Design Sys's substantial trades, within a strike price spectrum from $240.0 to $330.0 over the preceding 30 days.
Cadence Design Sys Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CDNS | PUT | TRADE | BULLISH | 05/17/24 | $330.00 | $149.5K | 68 | 0 |
| CDNS | CALL | TRADE | BEARISH | 04/19/24 | $310.00 | $96.6K | 585 | 89 |
| CDNS | CALL | TRADE | BULLISH | 04/19/24 | $320.00 | $85.1K | 521 | 310 |
| CDNS | CALL | TRADE | BULLISH | 04/19/24 | $320.00 | $69.6K | 521 | 210 |
| CDNS | PUT | SWEEP | BULLISH | 01/17/25 | $240.00 | $58.4K | 183 | 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.
Cadence Design Sys's Current Market Status
- With a trading volume of 647,425, the price of CDNS is down by -1.29%, reaching $318.58.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 28 days from now.
What The Experts Say On Cadence Design Sys
In the last month, 1 experts released ratings on this stock with an average target price of $320.0.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $320.
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.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
