Financial giants have made a conspicuous bearish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 33 unusual trades.
Delving into the details, we found 39% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 9 were puts, with a value of $666,294, and 24 were calls, valued at $1,761,826.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $66.0 to $180.0 for Broadcom over the recent three months.
Volume & Open Interest Development
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 $66.0 to $180.0 in the last 30 days.
Broadcom 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVGO | CALL | TRADE | BULLISH | 08/16/24 | $29.0 | $27.7 | $29.0 | $125.00 | $435.0K | 526 | 0 |
| AVGO | PUT | TRADE | BEARISH | 08/02/24 | $13.8 | $12.9 | $13.44 | $167.00 | $159.9K | 500 | 119 |
| AVGO | PUT | TRADE | BULLISH | 02/21/25 | $29.2 | $28.4 | $28.4 | $172.00 | $142.0K | 415 | 0 |
| AVGO | CALL | SWEEP | BULLISH | 09/20/24 | $6.2 | $6.1 | $6.1 | $165.00 | $122.0K | 5.9K | 254 |
| AVGO | CALL | SWEEP | BEARISH | 01/17/25 | $41.0 | $39.9 | $40.12 | $120.00 | $119.8K | 3.8K | 30 |
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.
Following our analysis of the options activities associated with Broadcom, we pivot to a closer look at the company's own performance.
Present Market Standing of Broadcom
- With a volume of 4,926,853, the price of AVGO is down -1.21% at $149.8.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 31 days.
What The Experts Say On Broadcom
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1002.0.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Broadcom with a target price of $2000.
- An analyst from Rosenblatt has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $2400.
- An analyst from TD Cowen has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $210.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Broadcom, which currently sits at a price target of $200.
- Consistent in their evaluation, an analyst from Cantor Fitzgerald keeps a Overweight rating on Broadcom with a target price of $200.
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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