Financial giants have made a conspicuous bearish move on Synopsys. Our analysis of options history for Synopsys (NASDAQ:SNPS) revealed 10 unusual trades.
Delving into the details, we found 30% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $176,160, and 4 were calls, valued at $162,470.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $610.0 for Synopsys over the last 3 months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Synopsys's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Synopsys's substantial trades, within a strike price spectrum from $300.0 to $610.0 over the preceding 30 days.
Synopsys Call and Put Volume: 30-Day Overview
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 | NEUTRAL | 07/19/24 | $19.4 | $18.8 | $19.1 | $590.00 | $57.3K | 306 | 27 |
SNPS | CALL | SWEEP | NEUTRAL | 07/19/24 | $22.7 | $22.0 | $22.41 | $590.00 | $49.1K | 306 | 3 |
SNPS | PUT | TRADE | BEARISH | 06/20/25 | $26.3 | $23.1 | $26.3 | $500.00 | $34.1K | 655 | 89 |
SNPS | PUT | TRADE | BEARISH | 06/20/25 | $26.6 | $23.1 | $26.6 | $500.00 | $31.9K | 655 | 59 |
SNPS | CALL | TRADE | BULLISH | 06/21/24 | $295.5 | $291.1 | $295.5 | $300.00 | $29.5K | 2 | 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.
Current Position of Synopsys
With a trading volume of 306,539, the price of SNPS is down by -0.64%, reaching $587.09.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 62 days from now.
What The Experts Say On Synopsys
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $649.4.
Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Synopsys, targeting a price of $655.
In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $672.
Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Synopsys with a target price of $615.
An analyst from Baird persists with their Outperform rating on Synopsys, maintaining a target price of $645.
In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $660.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Synopsys with Benzinga Pro for real-time alerts.