Financial giants have made a conspicuous bearish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 12 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $171,902, and 8 were calls, valued at $622,326.
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 $1150.0 and $1300.0 for Broadcom, spanning the last three 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 $1150.0 to $1300.0 in the last 30 days.
Broadcom Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AVGO | CALL | SWEEP | NEUTRAL | 02/02/24 | $1150.00 | $252.8K | 123 | 72 |
| AVGO | CALL | SWEEP | BEARISH | 02/02/24 | $1215.00 | $144.0K | 372 | 3 |
| AVGO | CALL | TRADE | BEARISH | 06/21/24 | $1200.00 | $56.0K | 208 | 0 |
| AVGO | PUT | SWEEP | BULLISH | 02/09/24 | $1190.00 | $50.3K | 80 | 0 |
| AVGO | PUT | TRADE | BEARISH | 05/17/24 | $1200.00 | $49.3K | 47 | 1 |
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
Where Is Broadcom Standing Right Now?
- Trading volume stands at 68,721, with AVGO's price down by -1.42%, positioned at $1191.0.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 29 days.
What Analysts Are Saying About Broadcom
In the last month, 3 experts released ratings on this stock with an average target price of $1308.3333333333333.
- An analyst from Goldman Sachs downgraded its action to Buy with a price target of $1325.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $1300.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $1300.
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.
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