Market Whales and Their Recent Bets on SNPS Options

Investors with significant funds have taken a bullish position in Synopsys SNPS, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SNPS usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 8 options transactions for Synopsys. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $246,230, and there was a single call, worth $75,900.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $520.0 and $600.0 for Synopsys, spanning the last three months.

Volume & Open Interest Trends

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 Synopsys'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 Synopsys's whale activity within a strike price range from $520.0 to $600.0 in the last 30 days.

Synopsys Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Current Position of Synopsys

• With a trading volume of 35,433, the price of SNPS is down by -1.11%, reaching $500.0.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 36 days from now.

Professional Analyst Ratings for Synopsys

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $650.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $640. * An analyst from Berenberg downgraded its action to Buy with a price target of $660. * In a cautious move, an analyst from Mizuho downgraded its rating to Outperform, setting a price target of $650.

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 Synopsys options trades with real-time alerts from Benzinga Pro.