Financial giants have made a conspicuous bearish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 34 unusual trades.
Delving into the details, we found 23% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 18 were puts, with a value of $1,012,593, and 16 were calls, valued at $692,022.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $680.0 to $1600.0 for Broadcom over the last 3 months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Broadcom's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Broadcom's significant trades, within a strike price range of $680.0 to $1600.0, over the past month.
Broadcom 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVGO | PUT | SWEEP | NEUTRAL | 05/03/24 | $17.7 | $16.6 | $17.2 | $1275.00 | $217.7K | 462 | 371 |
| AVGO | PUT | SWEEP | BEARISH | 05/03/24 | $12.0 | $10.8 | $11.37 | $1260.00 | $144.2K | 380 | 363 |
| AVGO | PUT | TRADE | BEARISH | 07/19/24 | $89.9 | $89.1 | $89.9 | $1280.00 | $116.8K | 143 | 21 |
| AVGO | PUT | SWEEP | BULLISH | 05/03/24 | $17.8 | $17.6 | $17.8 | $1260.00 | $74.7K | 380 | 418 |
| AVGO | CALL | TRADE | BEARISH | 07/19/24 | $97.7 | $96.5 | $96.5 | $1260.00 | $67.5K | 105 | 60 |
About Broadcom
Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue. It sells 17 core semiconductor product lines across wireless, networking, broadband, storage, and industrial markets. It is primarily a fabless designer but holds some manufacturing in-house, like for its best-of-breed FBAR filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments.Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as Brocade, CA Technologies, and Symantec in software.
In light of the recent options history for Broadcom, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Broadcom's Current Market Status
- Currently trading with a volume of 349,906, the AVGO's price is down by -2.07%, now at $1273.32.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 29 days.
Professional Analyst Ratings for Broadcom
3 market experts have recently issued ratings for this stock, with a consensus target price of $1540.0.
- In a cautious move, an analyst from Deutsche Bank downgraded its rating to Buy, setting a price target of $1500.
- Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to Outperform with a new price target of $1620.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Broadcom, targeting a price of $1500.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Broadcom options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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