Financial giants have made a conspicuous bullish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 34 unusual trades.
Delving into the details, we found 38% of traders were bullish, while 32% showed bearish tendencies. Out of all the trades we spotted, 13 were puts, with a value of $1,378,000, and 21 were calls, valued at $1,771,695.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $760.0 and $2100.0 for Broadcom, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Broadcom's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Broadcom's whale activity within a strike price range from $760.0 to $2100.0 in the last 30 days.
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 | BULLISH | 08/16/24 | $82.6 | $82.5 | $82.5 | $1600.00 | $701.2K | 422 | 0 |
| AVGO | CALL | SWEEP | BULLISH | 07/26/24 | $92.8 | $92.7 | $92.8 | $1580.00 | $371.2K | 162 | 0 |
| AVGO | CALL | TRADE | BULLISH | 07/12/24 | $8.3 | $8.2 | $8.3 | $1800.00 | $229.0K | 2.4K | 1.1K |
| AVGO | CALL | SWEEP | BEARISH | 07/19/24 | $219.2 | $206.5 | $210.88 | $1410.00 | $189.9K | 75 | 6 |
| AVGO | PUT | SWEEP | BULLISH | 08/16/24 | $82.1 | $82.0 | $82.0 | $1600.00 | $172.2K | 422 | 0 |
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.
Having examined the options trading patterns of Broadcom, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Broadcom
- Currently trading with a volume of 169,976, the AVGO's price is up by 0.49%, now at $1613.4.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 59 days.
What Analysts Are Saying About Broadcom
In the last month, 5 experts released ratings on this stock with an average target price of $1865.0.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $1765.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Broadcom, targeting a price of $2010.
- An analyst from Barclays persists with their Overweight rating on Broadcom, maintaining a target price of $2000.
- Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Broadcom, targeting a price of $1850.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Broadcom, maintaining a target price of $1700.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Broadcom with Benzinga Pro for real-time alerts.
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