Cadence Design Sys Options Trading: A Deep Dive into Market Sentiment

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 15 trades.

If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $352,945 and 12, calls, for a total amount of $731,804.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $280.0 to $360.0 for Cadence Design Sys over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Cadence Design Sys stands at 202.75, with a total volume reaching 1,564.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cadence Design Sys, situated within the strike price corridor from $280.0 to $360.0, throughout the last 30 days.

Cadence Design Sys 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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 and aids in 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.

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.

Where Is Cadence Design Sys Standing Right Now?

• Trading volume stands at 979,117, with CDNS's price down by 0.0%, positioned at $274.03.
• RSI indicators show the stock to be may be oversold.
• Earnings announcement expected in 60 days.

What The Experts Say On Cadence Design Sys

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $329.0.

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. * Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Cadence Design Sys with a target price of $335. * An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $325. * An analyst from B of A Securities has decided to maintain their Buy rating on Cadence Design Sys, which currently sits at a price target of $350. * Maintaining their stance, an analyst from Rosenblatt continues to hold a Neutral rating for Cadence Design Sys, targeting a price of $295. * Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Cadence Design Sys, targeting a price of $340.

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 Cadence Design Sys with Benzinga Pro for real-time alerts.