Unpacking the Latest Options Trading Trends in Synopsys
Portfolio Pulse from Benzinga Insights
Recent options trading trends for Synopsys (NASDAQ:SNPS) show a bearish sentiment among investors, with 69% of trades being bearish. The trading activity suggests a target price range of $450.0 to $640.0. Notable trades include bearish calls and puts with significant total trade prices and varying open interests. Synopsys, a provider of electronic design automation software, has seen its stock price slightly increase by 0.22% to $541.18, with indicators suggesting it may be approaching overbought territory. The next earnings report is expected in 19 days.

February 02, 2024 | 8:31 pm
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Synopsys has seen a bearish trend in options trading, with a significant portion of trades expecting a price movement towards $450-$640. The stock has recently increased slightly, but indicators suggest it might be overbought.
The bearish sentiment in options trading, combined with the stock approaching overbought territory, suggests a potential short-term price decline. The upcoming earnings report adds uncertainty, influencing the bearish score.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100