Deep-pocketed investors have adopted a bullish approach towards Broadcom AVGO, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AVGO usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 84 extraordinary options activities for Broadcom. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 48% leaning bullish and 39% bearish. Among these notable options, 26 are puts, totaling $1,544,560, and 58 are calls, amounting to $5,130,406.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $210.0 for Broadcom over the last 3 months.
Insights into Volume & Open Interest
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 $70.0 to $210.0 in the last 30 days.
Broadcom Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVGO | PUT | TRADE | BEARISH | 11/08/24 | $5.05 | $5.0 | $5.05 | $170.00 | $252.5K | 820 | 528 |
| AVGO | CALL | TRADE | BEARISH | 06/20/25 | $79.7 | $79.1 | $79.1 | $100.00 | $158.2K | 606 | 20 |
| AVGO | CALL | SWEEP | BULLISH | 12/20/24 | $13.75 | $13.7 | $13.75 | $175.00 | $103.1K | 2.5K | 257 |
| AVGO | PUT | SWEEP | BEARISH | 01/17/25 | $1.6 | $1.56 | $1.6 | $128.00 | $88.5K | 3.9K | 558 |
| AVGO | PUT | SWEEP | BEARISH | 01/17/25 | $1.62 | $1.57 | $1.61 | $128.00 | $85.9K | 3.9K | 1.0K |
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.
Present Market Standing of Broadcom
- Trading volume stands at 12,292,166, with AVGO's price down by -3.61%, positioned at $175.72.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 51 days.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
