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 11 options trades for Synopsys.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $30,710, and 10, calls, for a total amount of $747,302.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $200.0 and $540.0 for Synopsys, spanning the last three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Synopsys options trades today is 127.2 with a total volume of 325.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Synopsys's big money trades within a strike price range of $200.0 to $540.0 over the last 30 days.
Synopsys 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| SNPS | CALL | TRADE | NEUTRAL | 06/21/24 | $510.00 | $287.0K | 144 | 4 |
| SNPS | CALL | TRADE | BEARISH | 06/21/24 | $510.00 | $106.2K | 144 | 75 |
| SNPS | CALL | TRADE | NEUTRAL | 01/16/26 | $230.00 | $92.6K | 0 | 3 |
| SNPS | CALL | TRADE | BEARISH | 01/19/24 | $460.00 | $77.3K | 121 | 1 |
| SNPS | CALL | TRADE | BULLISH | 12/15/23 | $460.00 | $38.7K | 179 | 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.
Synopsys's Current Market Status
- With a trading volume of 401,369, the price of SNPS is down by 0.0%, reaching $506.16.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 20 days from now.
Professional Analyst Ratings for Synopsys
1 market experts have recently issued ratings for this stock, with a consensus target price of $540.0.
- An analyst from Keybanc has decided to maintain their Overweight rating on Synopsys, which currently sits at a price target of $540.
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.
© 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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