Looking At Synopsys's Recent Unusual Options Activity

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 positions 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.

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

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 50%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $26,355, and 7, calls, for a total amount of $2,079,940.

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What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $380.0 to $540.0 for Synopsys during the past quarter.

Volume & Open Interest Development

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 $380.0 to $540.0 in the last 30 days.

Synopsys Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Synopsys

Synopsys is a provider of electronic design automation software and intellectual property products. EDA software automates and aids in the chip design process, enhancing design accuracy, productivity, and complexity in a full-flow end-to-end solution. Synopsys' comprehensive portfolio is benefiting from a convergence of semiconductor companies moving up the stack of technologies 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.

Current Position of Synopsys

• Currently trading with a volume of 552,765, the SNPS's price is up by 0.7%, now at $499.24.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 71 days.

Professional Analyst Ratings for Synopsys

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $616.25.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Keybanc persists with their Overweight rating on Synopsys, maintaining a target price of $575. * An analyst from Needham downgraded its action to Buy with a price target of $650. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $615. * An analyst from Rosenblatt has decided to maintain their Buy rating on Synopsys, which currently sits at a price target of $625.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Synopsys options trades with real-time alerts from Benzinga Pro.