Synopsys Unusual Options Activity

Whales with a lot of money to spend have taken a noticeably bullish stance on Synopsys.

Looking at options history for Synopsys SNPS we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $136,076 and 5, calls, for a total amount of $202,810.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $550.0 to $640.0 for Synopsys over the recent three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Synopsys stands at 109.2, with a total volume reaching 1,150.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Synopsys, situated within the strike price corridor from $550.0 to $640.0, throughout the last 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.

Having examined the options trading patterns of Synopsys, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Synopsys Standing Right Now?

• With a trading volume of 378,480, the price of SNPS is up by 1.88%, reaching $566.48.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 64 days from now.

Expert Opinions on Synopsys

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $592.0.

• Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Synopsys with a target price of $570.
• An analyst from Keybanc has decided to maintain their Overweight rating on Synopsys, which currently sits at a price target of $600.
• Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Synopsys, targeting a price of $620.
• In a cautious move, an analyst from Stifel downgraded its rating to Buy, setting a price target of $550.
• An analyst from Wells Fargo persists with their Overweight rating on Synopsys, maintaining a target price of $620.

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 Synopsys, Benzinga Pro gives you real-time options trades alerts.