Check Out What Whales Are Doing With SNPS

Financial giants have made a conspicuous bearish move on Synopsys. Our analysis of options history for Synopsys SNPS revealed 8 unusual trades.

Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $298,874, and 2 were calls, valued at $96,040.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $400.0 to $590.0 for Synopsys during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Synopsys's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Synopsys's substantial trades, within a strike price spectrum from $400.0 to $590.0 over the preceding 30 days.

Synopsys Call and Put Volume: 30-Day Overview

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.

After a thorough review of the options trading surrounding Synopsys, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Synopsys's Current Market Status

• With a volume of 648,076, the price of SNPS is down -2.05% at $548.48.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 54 days.

Professional Analyst Ratings for Synopsys

5 market experts have recently issued ratings for this stock, with a consensus target price of $621.0.

• Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Synopsys, targeting a price of $660.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Synopsys, targeting a price of $620.
• An analyst from Keybanc persists with their Overweight rating on Synopsys, maintaining a target price of $675.
• An analyst from Stifel downgraded its action to Buy with a price target of $550.
• Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Synopsys with a target price of $600.

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 Synopsys with Benzinga Pro for real-time alerts.