SNPSSynopsys Inc
Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $86.1B|NASDAQ
● 2026-04-17$449.58
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +11.7%YTD -6.4%7D +14.6%
Options Vol
7,301
30D
Implied Move
±13.4%
IV Rank
31%
SNPS Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.3
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 80.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.05x — IV ≤ HV
Sector Relative≤50%
Sector percentile 51% — above sector median
Term Structure
<1.1xFront/Back 0.94x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 47.9% — normal range
Spread-Adjusted Value
<80%Effective IV 76.4% (ATM 47.9% + spread 14.2% + bias) — fair
Execution Efficiency
<3.0%Total drag 21.67% (spread 14.23% + slippage 7.44%) — high friction
Vega Efficiency
≥5.0Vega efficiency 6.45 (vega 9.184 / spread 14.23%) — acceptable
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Weak signal (Conviction: +15%, Raw: +17%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +15% (bullish) — Raw: +17%
OI Skew Magnitude
≥15%|OI skew| 9.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -18.2%, OI skew +9.9% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 49%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +8%, ATM: +16%, OTM: +19% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 87% — very bearish vs sector
Activity
Unusual activity?
5.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.8x avg — elevated
Turnover Rate
≥15%Vol/OI 9.7% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +10.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 68% — active vs sector
Trade Quality
≥30%Large trade volume 36% — institutional presence
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction +15 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 14.2% — wide
Adequate OI
≥10,000OI 75,594 — deep
Active Volume
≥500Volume 7,301/day — active
Reasonable Cost
≤$0.50$0.71 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 52% — neutral vs sector
Order Book Depth
≥100 contractsDepth 64.6 contracts (bid:30.8 ask:33.8) — thin
Execution Quality
<1.0%Avg slippage 7.44% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.2% — contango
IV Percentile Clarity
<30 or >70IV percentile 80% — seller opportunity
Event Detection
≥10pts kinkIV kink -2.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3.27 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +15% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 66 (ITM 20% + inst 36%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV cheap, mixed flow
Long Puts5.6
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call4.7
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.