Unpacking the Latest Options Trading Trends in Cadence Design Sys

Whales with a lot of money to spend have taken a noticeably bearish stance on Cadence Design Sys.

Looking at options history for Cadence Design Sys CDNS we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 12% of the investors opened trades with bullish expectations and 75% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $601,861 and 3, calls, for a total amount of $112,506.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $220.0 to $285.0 for Cadence Design Sys over the recent three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Cadence Design Sys's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cadence Design Sys's whale activity within a strike price range from $220.0 to $285.0 in the last 30 days.

Cadence Design Sys Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Cadence Design Sys's Current Market Status

• Currently trading with a volume of 3,661,498, the CDNS's price is down by -4.07%, now at $250.19.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 80 days.

Professional Analyst Ratings for Cadence Design Sys

In the last month, 3 experts released ratings on this stock with an average target price of $325.3333333333333.

• An analyst from Needham downgraded its action to Buy with a price target of $320.
• Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Cadence Design Sys with a target price of $338.
• An analyst from Piper Sandler has decided to maintain their Neutral rating on Cadence Design Sys, which currently sits at a price target of $318.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cadence Design Sys options trades with real-time alerts from Benzinga Pro.