A Closer Look at Broadcom's Options Market Dynamics

Financial giants have made a conspicuous bullish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 50 unusual trades.

Delving into the details, we found 38% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $946,503, and 42 were calls, valued at $2,068,412.

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 $150.0 and $370.0 for Broadcom, spanning the last three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 3514.19 with a total volume of 7,012.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Broadcom's big money trades within a strike price range of $150.0 to $370.0 over the last 30 days.

Broadcom Call and Put Volume: 30-Day Overview

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.

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?

• With a volume of 4,267,717, the price of AVGO is down -0.25% at $241.36.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 6 days.

Professional Analyst Ratings for Broadcom

3 market experts have recently issued ratings for this stock, with a consensus target price of $293.67.

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 Susquehanna continues to hold a Positive rating for Broadcom, targeting a price of $280. * An analyst from Redburn Atlantic downgraded its action to Buy with a price target of $301. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Broadcom with a target price of $300.

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.