Deep-pocketed investors have adopted a bearish approach towards Synopsys 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 8 extraordinary options activities for Synopsys. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 25% leaning bullish and 37% bearish. Among these notable options, 3 are puts, totaling $88,885, and 5 are calls, amounting to $268,163.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $520.0 to $670.0 for Synopsys during the past quarter.

Volume & Open Interest Development

In today’s trading context, the average open interest for options of Synopsys stands at 140.67, with a total volume reaching 322.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Synopsys, situated within the strike price corridor from $520.0 to $670.0, throughout the last 30 days.

Synopsys Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Synopsys, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Synopsys’s Current Market Status

• With a trading volume of 217,362, the price of SNPS is down by -3.59%, reaching $528.62.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 19 days from now.

Expert Opinions on Synopsys

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $658.75.

Turn $1000 into $1270 in just 20 days?

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 Loop Capital downgraded its action to Buy with a price target of $675.
* Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Synopsys with a target price of $670.
* In a cautious move, an analyst from Mizuho downgraded its rating to Outperform, setting a price target of $650.
* An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $640.

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.