A Closer Look at Synopsys's Options Market Dynamics

High-rolling investors have positioned themselves bullish on Synopsys SNPS, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SNPS often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Synopsys. This is not a typical pattern.

The sentiment among these major traders is split, with 62% bullish and 37% bearish. Among all the options we identified, there was one put, amounting to $81,250, and 7 calls, totaling $470,590.

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 $550.0 to $900.0 for Synopsys during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Synopsys stands at 130.29, with a total volume reaching 183.00. 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 $900.0, throughout the last 30 days.

Synopsys Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

In light of the recent options history for Synopsys, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Synopsys Standing Right Now?

• Trading volume stands at 354,055, with SNPS's price up by 1.18%, positioned at $582.74.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 69 days.

What The Experts Say On Synopsys

3 market experts have recently issued ratings for this stock, with a consensus target price of $638.3333333333334.

• An analyst from Baird has decided to maintain their Outperform rating on Synopsys, which currently sits at a price target of $640.
• An analyst from Rosenblatt has decided to maintain their Buy rating on Synopsys, which currently sits at a price target of $615.
• An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $660.

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.