What the Options Market Tells Us About Synopsys

Investors with a lot of money to spend have taken a bearish stance on Synopsys SNPS.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNPS, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Synopsys.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 50%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $152,691, and 3 are calls, for a total amount of $135,703.

Latest Startup Investment Opportunities:

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $540.0 to $610.0 for Synopsys over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Synopsys stands at 189.83, with a total volume reaching 270.00. 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 $540.0 to $610.0, throughout the last 30 days.

Synopsys 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Present Market Standing of Synopsys

• Currently trading with a volume of 211,950, the SNPS's price is down by -1.28%, now at $572.76.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 6 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 Synopsys, Benzinga Pro gives you real-time options trades alerts.