Check Out What Whales Are Doing With AVGO

Deep-pocketed investors have adopted a bearish 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 20 extraordinary options activities for Broadcom. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 40% leaning bullish and 45% bearish. Among these notable options, 2 are puts, totaling $64,925, and 18 are calls, amounting to $1,199,410.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $113.0 to $370.0 for Broadcom during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Broadcom stands at 4408.0, with a total volume reaching 52,488.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Broadcom, situated within the strike price corridor from $113.0 to $370.0, throughout the last 30 days.

Broadcom Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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

• With a volume of 3,265,832, the price of AVGO is up 0.62% at $238.91.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 44 days.

Expert Opinions on Broadcom

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $260.0.

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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. * An analyst from Mizuho has decided to maintain their Outperform rating on Broadcom, which currently sits at a price target of $260. * An analyst from Barclays persists with their Overweight rating on Broadcom, maintaining a target price of $260.

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.