Whales with a lot of money to spend have taken a noticeably bearish stance on Synopsys.
Looking at options history for Synopsys SNPS we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $487,866 and 8, calls, for a total amount of $709,505.
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 $250.0 to $620.0 for Synopsys during the past quarter.
Analyzing Volume & Open Interest
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 $250.0 to $620.0 in the last 30 days.
Synopsys Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNPS | CALL | SWEEP | BULLISH | 01/17/25 | $510.00 | $267.3K | 22 | 472 |
| SNPS | CALL | TRADE | BEARISH | 01/19/24 | $250.00 | $151.2K | 17 | 6 |
| SNPS | PUT | TRADE | BEARISH | 03/15/24 | $520.00 | $108.1K | 211 | 38 |
| SNPS | CALL | TRADE | BEARISH | 03/15/24 | $530.00 | $84.0K | 102 | 61 |
| SNPS | PUT | TRADE | BEARISH | 01/17/25 | $400.00 | $76.3K | 110 | 46 |
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
Present Market Standing of Synopsys
- With a volume of 652,999, the price of SNPS is up 0.26% at $501.3.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 36 days.
Professional Analyst Ratings for Synopsys
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $630.0.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Synopsys with a target price of $630.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
