A Closer Look at Synopsys's Options Market Dynamics

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Financial giants have made a conspicuous bearish move on Synopsys. Our analysis of options history for Synopsys SNPS revealed 14 unusual trades.

Delving into the details, we found 21% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $60,792, and 12 were calls, valued at $480,284.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $520.0 to $580.0 for Synopsys over the recent three months.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Synopsys'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 Synopsys's whale activity within a strike price range from $520.0 to $580.0 in the last 30 days.

Synopsys 30-Day Option Volume & Interest Snapshot

Options Call Chart

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 BEARISH 09/20/24 $33.5 $28.9 $29.4 $580.00 $52.9K 53 116
SNPS CALL TRADE BEARISH 05/17/24 $17.1 $17.0 $17.0 $520.00 $49.3K 204 83
SNPS CALL TRADE NEUTRAL 09/20/24 $31.4 $29.7 $30.4 $580.00 $48.6K 53 86
SNPS CALL TRADE BEARISH 09/20/24 $31.4 $30.2 $30.5 $580.00 $42.7K 53 34
SNPS CALL TRADE BEARISH 06/20/25 $84.7 $80.0 $80.0 $550.00 $40.0K 24 0

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.

Synopsys's Current Market Status

  • With a volume of 724,714, the price of SNPS is down -1.62% at $522.0.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 21 days.

What Analysts Are Saying About 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.

  • In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a 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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Financials Analysis
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