Broadcom's Options Frenzy: What You Need to Know

Financial giants have made a conspicuous bullish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 88 unusual trades.

Delving into the details, we found 54% of traders were bullish, while 32% showed bearish tendencies. Out of all the trades we spotted, 23 were puts, with a value of $2,688,763, and 65 were calls, valued at $5,303,947.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $145.0 to $320.0 for Broadcom over the last 3 months.

Insights into Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $145.0 to $320.0 in the last 30 days.

Broadcom 30-Day Option Volume & Interest Snapshot

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.

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.

Present Market Standing of Broadcom

• With a trading volume of 8,823,884, the price of AVGO is down by -1.08%, reaching $233.25.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 20 days from now.

Expert Opinions on Broadcom

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $253.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Broadcom, targeting a price of $260. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $246.

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.