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Market Whales and Their Recent Bets on SNPS Options

Author: Benzinga Insights | August 02, 2024 11:15am

Whales with a lot of money to spend have taken a noticeably bearish stance on Synopsys.

Looking at options history for Synopsys (NASDAQ:SNPS) we detected 11 trades.

If we consider the specifics of each trade, it is accurate to state that 18% of the investors opened trades with bullish expectations and 81% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $331,324 and 3, calls, for a total amount of $141,500.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $450.0 and $550.0 for Synopsys, spanning the last three months.

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 $450.0 to $550.0 in the last 30 days.

Synopsys Option Activity Analysis: Last 30 Days

Options Call Chart

Largest Options Trades Observed:

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 $37.0 $32.0 $32.0 $510.00 $80.0K 11 25
SNPS PUT TRADE BEARISH 09/20/24 $27.7 $25.0 $27.7 $500.00 $60.9K 368 22
SNPS PUT TRADE BULLISH 06/20/25 $95.0 $94.0 $94.0 $550.00 $47.0K 54 25
SNPS PUT TRADE BEARISH 06/20/25 $92.0 $88.2 $92.0 $550.00 $46.0K 54 10
SNPS PUT TRADE BEARISH 12/20/24 $80.1 $76.7 $80.1 $550.00 $40.0K 82 5

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

  • Currently trading with a volume of 957,728, the SNPS's price is down by -9.06%, now at $491.7.
  • RSI readings suggest the stock is currently may be oversold.
  • Anticipated earnings release is in 19 days.

What The Experts Say On Synopsys

1 market experts have recently issued ratings for this stock, with a consensus target price of $687.0.

  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Synopsys with a target price of $687.

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.

Posted In: SNPS

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