Synopsys Options Trading: A Deep Dive into Market Sentiment

Deep-pocketed investors have adopted a bullish approach towards Synopsys SNPS, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNPS usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Synopsys. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 22% bearish. Among these notable options, 6 are puts, totaling $426,369, and 12 are calls, amounting to $944,217.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $500.0 to $900.0 for Synopsys over the recent 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 $500.0 to $900.0 over the preceding 30 days.

Synopsys 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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

• Trading volume stands at 908,807, with SNPS's price up by 5.07%, positioned at $602.21.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 83 days.

Professional Analyst Ratings for Synopsys

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $649.4.

• Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Synopsys, targeting a price of $645.
• Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Synopsys with a target price of $615.
• An analyst from Piper Sandler downgraded its action to Overweight with a price target of $672.
• An analyst from Needham downgraded its action to Buy with a price target of $660.
• Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Synopsys, targeting a price of $655.

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.