Looking At Synopsys's Recent Unusual Options Activity
Deep-pocketed investors have adopted a bullish approach towards Synopsys (NASDAQ:SNPS), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SNPS usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Synopsys. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 20% bearish. Among these notable options, 4 are puts, totaling $240,702, and 11 are calls, amounting to $1,589,176.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $800.0 for Synopsys over the recent three 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 $230.0 to $800.0 over the preceding 30 days.
Synopsys Call and Put Volume: 30-Day Overview
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 | SWEEP | NEUTRAL | 01/16/26 | $84.9 | $77.0 | $84.9 | $660.00 | $849.3K | 18 | 0 |
| SNPS | CALL | TRADE | BULLISH | 01/16/26 | $41.0 | $40.0 | $41.0 | $800.00 | $258.3K | 250 | 0 |
| SNPS | CALL | TRADE | BULLISH | 12/20/24 | $13.9 | $8.9 | $13.4 | $740.00 | $134.0K | 842 | 0 |
| SNPS | PUT | TRADE | BULLISH | 08/16/24 | $11.0 | $10.0 | $10.0 | $570.00 | $105.0K | 165 | 0 |
| SNPS | CALL | TRADE | BULLISH | 01/17/25 | $374.0 | $365.0 | $371.35 | $230.00 | $74.2K | 7 | 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.
Following our analysis of the options activities associated with Synopsys, we pivot to a closer look at the company's own performance.
Synopsys's Current Market Status
- Trading volume stands at 122,427, with SNPS's price down by -3.66%, positioned at $590.57.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 28 days.
What The Experts Say On Synopsys
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $679.3333333333334.
- An analyst from Baird has decided to maintain their Outperform rating on Synopsys, which currently sits at a price target of $661.
- Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Synopsys, targeting a price of $690.
- 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.