Broadcom's Options: A Look at What the Big Money is Thinking

Deep-pocketed investors have adopted a bullish 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 50 extraordinary options activities for Broadcom. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 62% leaning bullish and 22% bearish. Among these notable options, 20 are puts, totaling $1,445,519, and 30 are calls, amounting to $2,569,643.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $280.0 for Broadcom over the recent three months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Broadcom stands at 3176.3, with a total volume reaching 13,952.00. 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 $110.0 to $280.0, throughout the last 30 days.

Broadcom Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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

Present Market Standing of Broadcom

• Currently trading with a volume of 7,796,945, the AVGO's price is down by -0.38%, now at $227.77.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 57 days.

Professional Analyst Ratings for 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 $227.6.

Turn $1000 into $1270 in just 20 days?

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 Baird persists with their Outperform rating on Broadcom, maintaining a target price of $210. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Broadcom with a target price of $250. * An analyst from Morgan Stanley persists with their Overweight rating on Broadcom, maintaining a target price of $233. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Broadcom, targeting a price of $220. * An analyst from Susquehanna has decided to maintain their Positive rating on Broadcom, which currently sits at a price target of $225.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Broadcom with Benzinga Pro for real-time alerts.