Financial giants have made a conspicuous bullish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 65 unusual trades.
Delving into the details, we found 47% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $597,225, and 55 were calls, valued at $3,809,452.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $50.0 and $235.0 for Broadcom, spanning the last three months.
Insights into Volume & Open Interest
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 $50.0 to $235.0, over the past month.
Broadcom 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVGO | CALL | SWEEP | BULLISH | 08/30/24 | $1.2 | $1.15 | $1.2 | $163.00 | $583.4K | 1.4K | 5.8K |
| AVGO | CALL | SWEEP | BEARISH | 11/15/24 | $8.1 | $7.9 | $7.9 | $175.00 | $335.3K | 2.1K | 1.0K |
| AVGO | PUT | SWEEP | NEUTRAL | 10/18/24 | $12.7 | $12.4 | $12.5 | $165.00 | $251.4K | 569 | 263 |
| AVGO | CALL | TRADE | BULLISH | 01/16/26 | $113.0 | $111.3 | $112.5 | $50.00 | $225.0K | 130 | 20 |
| AVGO | CALL | SWEEP | BULLISH | 11/15/24 | $8.0 | $7.9 | $8.0 | $175.00 | $217.9K | 2.1K | 272 |
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.
After a thorough review of the options trading surrounding Broadcom, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Broadcom Standing Right Now?
- With a trading volume of 7,396,047, the price of AVGO is up by 2.12%, reaching $161.54.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 7 days from now.
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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