Investors with a lot of money to spend have taken a bullish stance on Broadcom AVGO.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AVGO, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 236 uncommon options trades for Broadcom.
This isn't normal.
The overall sentiment of these big-money traders is split between 47% bullish and 31%, bearish.
Out of all of the special options we uncovered, 42 are puts, for a total amount of $2,938,817, and 194 are calls, for a total amount of $16,118,074.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $1025.0 and $2300.0 for Broadcom, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Broadcom stands at 404.65, with a total volume reaching 66,493.00. 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 $1025.0 to $2300.0, throughout the last 30 days.
Broadcom 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVGO | CALL | SWEEP | BEARISH | 06/21/24 | $12.0 | $10.3 | $10.5 | $1800.00 | $589.2K | 2.5K | 3.1K |
| AVGO | CALL | TRADE | BEARISH | 01/17/25 | $332.4 | $324.2 | $325.5 | $1500.00 | $520.8K | 1.8K | 106 |
| AVGO | CALL | SWEEP | BEARISH | 12/20/24 | $188.7 | $178.0 | $188.7 | $1760.00 | $376.0K | 26 | 2 |
| AVGO | CALL | SWEEP | BULLISH | 07/19/24 | $324.5 | $317.5 | $324.5 | $1400.00 | $227.1K | 429 | 31 |
| AVGO | CALL | TRADE | NEUTRAL | 06/20/25 | $100.8 | $94.7 | $97.24 | $2300.00 | $194.4K | 0 | 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.
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.
Where Is Broadcom Standing Right Now?
- Trading volume stands at 3,301,217, with AVGO's price up by 2.45%, positioned at $1720.14.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 76 days.
Expert Opinions on Broadcom
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1892.0.
- In a cautious move, an analyst from Rosenblatt downgraded its rating to Buy, setting a price target of $1500.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Broadcom, which currently sits at a price target of $2010.
- An analyst from Jefferies has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $2050.
- An analyst from Mizuho persists with their Buy rating on Broadcom, maintaining a target price of $1900.
- An analyst from Barclays persists with their Overweight rating on Broadcom, maintaining a target price of $2000.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Broadcom, Benzinga Pro gives you real-time options trades alerts.
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