Financial giants have made a conspicuous bearish move on Synopsys. Our analysis of options history for Synopsys SNPS revealed 9 unusual trades.
Delving into the details, we found 11% of traders were bullish, while 88% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $395,390, and 7 were calls, valued at $1,433,627.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $310.0 to $740.0 for Synopsys during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Synopsys's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Synopsys's significant trades, within a strike price range of $310.0 to $740.0, over the past month.
Synopsys 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNPS | CALL | TRADE | BEARISH | 12/20/24 | $740.00 | $1.2M | 12 | 600 |
| SNPS | PUT | SWEEP | BEARISH | 04/19/24 | $500.00 | $285.3K | 887 | 705 |
| SNPS | PUT | SWEEP | BEARISH | 04/19/24 | $600.00 | $110.0K | 120 | 25 |
| SNPS | CALL | TRADE | NEUTRAL | 06/21/24 | $450.00 | $39.4K | 49 | 3 |
| SNPS | CALL | TRADE | BEARISH | 06/21/24 | $660.00 | $29.0K | 198 | 26 |
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
Where Is Synopsys Standing Right Now?
- Currently trading with a volume of 252,375, the SNPS's price is down by -1.14%, now at $570.12.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 63 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 Rosenblatt persists with their Buy rating on Synopsys, maintaining a target price of $615.
- Maintaining their stance, an analyst from Baird continues to hold a Outperform rating for Synopsys, targeting a price of $640.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $660.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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