Investors with significant funds have taken a bearish position in Cadence Design Sys CDNS, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CDNS usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Cadence Design Sys. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 12% being bullish and 87% bearish. Of all the options we discovered, 7 are puts, valued at $238,769, and there was a single call, worth $206,137.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $265.0 and $295.0 for Cadence Design Sys, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $265.0 to $295.0 in the last 30 days.
Cadence Design Sys Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CDNS | CALL | SWEEP | BEARISH | 11/15/24 | $8.8 | $8.6 | $8.67 | $295.00 | $206.1K | 142 | 240 |
| CDNS | PUT | SWEEP | BEARISH | 01/17/25 | $17.6 | $17.1 | $17.6 | $265.00 | $47.6K | 118 | 57 |
| CDNS | PUT | TRADE | BEARISH | 01/17/25 | $18.7 | $18.3 | $18.6 | $270.00 | $37.2K | 828 | 88 |
| CDNS | PUT | TRADE | BEARISH | 01/17/25 | $17.7 | $17.3 | $17.6 | $265.00 | $35.2K | 118 | 251 |
| CDNS | PUT | SWEEP | BEARISH | 01/17/25 | $17.6 | $17.2 | $17.6 | $265.00 | $35.2K | 118 | 139 |
About Cadence Design Sys
Cadence Design Systems is a provider of electronic design automation software, intellectual property, and system design and analysis products. EDA software automates the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Cadence offers a portfolio of design IP, as well as system design and analysis products, which enable system-level analysis and verification solutions. Cadence's 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 semiconductor design. The resulting expansion in EDA customers, alongside secular digitalization of various end markets, benefits EDA vendors like Cadence.
Present Market Standing of Cadence Design Sys
- With a volume of 399,449, the price of CDNS is down -0.51% at $273.39.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 33 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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