Market Whales and Their Recent Bets on SNPS Options
Portfolio Pulse from Benzinga Insights
Market whales have shown a predominantly bearish stance on Synopsys (NASDAQ:SNPS) through recent options trading, as detected by Benzinga's options scanner. A total of 9 significant trades were identified, with a sentiment split of 22% bullish and 77% bearish. The focus is on a price band between $550.0 and $580.0 for SNPS, based on trading volumes and open interest. Synopsys, a provider of electronic design automation software, has seen its stock price increase by 0.51% to $562.0, with an RSI indicating it may be approaching overbought territory.
February 06, 2024 | 3:16 pm
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Significant bearish options activity detected for Synopsys, with a focus on a price band between $550 and $580. The stock has recently increased to $562, with indicators suggesting it may be nearing overbought territory.
The bearish sentiment among market whales, as evidenced by the options trading activity, suggests a potential downside for SNPS in the short term. The focus on a specific price band and the current stock price nearing the upper end of this range, combined with an RSI that hints at overbought conditions, further supports the likelihood of a downward price movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100