Financial giants have made a conspicuous bullish move on Synopsys. Our analysis of options history for Synopsys SNPS revealed 16 unusual trades.
Delving into the details, we found 68% of traders were bullish, while 18% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $770,029, and 9 were calls, valued at $599,149.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $510.0 to $650.0 for Synopsys over the recent three months.
Insights into 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 $510.0 to $650.0 over the preceding 30 days.
Synopsys Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNPS | PUT | SWEEP | BULLISH | 09/20/24 | $19.7 | $18.9 | $18.9 | $550.00 | $272.1K | 1.4K | 262 |
| SNPS | PUT | TRADE | BULLISH | 09/20/24 | $24.2 | $23.4 | $23.5 | $560.00 | $180.9K | 299 | 177 |
| SNPS | PUT | SWEEP | BEARISH | 09/20/24 | $48.2 | $45.8 | $48.3 | $600.00 | $178.7K | 100 | 128 |
| SNPS | CALL | TRADE | NEUTRAL | 09/20/24 | $4.3 | $3.1 | $3.8 | $650.00 | $142.5K | 24 | 507 |
| SNPS | CALL | SWEEP | BEARISH | 09/20/24 | $42.0 | $41.3 | $41.3 | $540.00 | $111.5K | 164 | 31 |
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.
Following our analysis of the options activities associated with Synopsys, we pivot to a closer look at the company's own performance.
Current Position of Synopsys
- With a trading volume of 354,295, the price of SNPS is up by 1.52%, reaching $565.49.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 0 days from now.
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 $635.0.
- An analyst from Rosenblatt persists with their Buy rating on Synopsys, maintaining a target price of $635.
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.
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