Cadence Design Sys Unusual Options Activity For August 23
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Cadence Design Sys (NASDAQ:CDNS), with a majority of investors taking a bullish stance. The trades include 3 puts amounting to $126,484 and 8 calls amounting to $316,872. The targeted price range for Cadence Design Sys over the last 3 months has been from $165.0 to $290.0. The current price of CDNS is up 3.54% at $233.5. Keybanc, Needham, Rosenblatt, and B of A Securities have maintained their ratings on Cadence Design Sys with varying price targets.
August 23, 2023 | 6:33 pm
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Cadence Design Sys has seen unusual options activity, with a majority of investors taking a bullish stance. The current price of CDNS is up 3.54% at $233.5.
The unusual options activity, majority of which is bullish, indicates that investors are expecting the price of Cadence Design Sys to increase. This, coupled with the current upward trend in price, suggests a positive short term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100