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What the Options Market Tells Us About Synopsys

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Investors with a lot of money to spend have taken a bearish stance on Synopsys (NASDAQ:SNPS).

And retail traders should know.

We noticed this today when the trades 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.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner spotted 8 uncommon options trades for Synopsys.

This isn’t normal.

The overall sentiment of these big-money traders is split between 25% bullish and 50%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $152,691, and 3 are calls, for a total amount of $135,703.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $540.0 to $610.0 for Synopsys over the recent three months.

Volume & Open Interest Trends

In today’s trading context, the average open interest for options of Synopsys stands at 189.83, with a total volume reaching 270.00. 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 $540.0 to $610.0, throughout the last 30 days.

Synopsys 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
SNPS CALL TRADE NEUTRAL 09/20/24 $38.6 $37.9 $38.2 $600.00 $76.4K 68 0
SNPS PUT SWEEP BEARISH 06/21/24 $16.0 $15.8 $15.8 $560.00 $34.7K 429 23
SNPS PUT SWEEP BEARISH 09/20/24 $37.1 $36.3 $37.1 $570.00 $33.3K 67 12
SNPS CALL TRADE BULLISH 06/20/25 $82.6 $76.3 $82.6 $610.00 $33.0K 21 4
SNPS PUT SWEEP BEARISH 06/21/24 $16.0 $15.6 $15.9 $560.00 $28.6K 429 41

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…

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