A whale with a lot of money to spend has taken a noticeably bearish stance on Cadence Design Sys.
Looking at options history for Cadence Design Sys CDNS we detected 11 strange trades.
If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $130,927 and 7, calls, for a total amount of $376,098.
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 $185.0 to $270.0 for Cadence Design Sys over the last 3 months.
Volume & Open Interest Development
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 $185.0 to $270.0 in the last 30 days.
Cadence Design Sys Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CDNS | CALL | SWEEP | BEARISH | 01/17/25 | $270.00 | $105.1K | 252 | 100 |
| CDNS | CALL | TRADE | BEARISH | 01/17/25 | $270.00 | $61.0K | 252 | 52 |
| CDNS | CALL | TRADE | BEARISH | 01/17/25 | $270.00 | $52.5K | 252 | 0 |
| CDNS | CALL | SWEEP | BULLISH | 11/17/23 | $240.00 | $52.2K | 421 | 69 |
| CDNS | PUT | TRADE | BEARISH | 11/17/23 | $230.00 | $42.3K | 230 | 69 |
Where Is Cadence Design Sys Standing Right Now?
- With a volume of 374,407, the price of CDNS is down -2.63% at $222.9.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Cadence Design Sys:
- Keybanc has decided to maintain their Overweight rating on Cadence Design Sys, which currently sits at a price target of $270.
- Rosenblatt has decided to maintain their Buy rating on Cadence Design Sys, which currently sits at a price target of $250.
- Needham downgraded its action to Buy with a price target of $235
- Stifel upgraded its action to Buy with a price target of $300
- Wells Fargo has decided to maintain their Overweight rating on Cadence Design Sys, which currently sits at a price target of $270.
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.
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