Financial giants have made a conspicuous bullish move on Synopsys. Our analysis of options history for Synopsys SNPS revealed 9 unusual trades.
Delving into the details, we found 44% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $171,280, and 7 were calls, valued at $377,928.
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Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $410.0 and $900.0 for Synopsys, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Synopsys stands at 214.0, with a total volume reaching 205.00. 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 $410.0 to $900.0, throughout the last 30 days.
Synopsys 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNPS | CALL | TRADE | BULLISH | 05/17/24 | $13.5 | $13.1 | $13.5 | $550.00 | $168.7K | 507 | 19 |
| SNPS | PUT | SWEEP | BULLISH | 01/17/25 | $368.3 | $359.2 | $359.2 | $900.00 | $143.6K | 0 | 0 |
| SNPS | CALL | TRADE | BEARISH | 01/17/25 | $165.7 | $161.0 | $161.0 | $410.00 | $48.3K | 4 | 0 |
| SNPS | CALL | TRADE | NEUTRAL | 06/21/24 | $30.5 | $29.7 | $30.1 | $550.00 | $45.1K | 808 | 24 |
| SNPS | CALL | TRADE | BULLISH | 06/21/24 | $31.6 | $31.6 | $31.6 | $540.00 | $31.6K | 75 | 10 |
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
Current Position of Synopsys
- Currently trading with a volume of 224,328, the SNPS's price is up by 2.84%, now at $545.17.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 26 days.
Expert Opinions on Synopsys
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $665.0.
- Reflecting concerns, an analyst from Piper Sandler lowers its rating to Overweight with a new price target of $665.
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.
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