Market Whales and Their Recent Bets on AVGO Options

Deep-pocketed investors have adopted a bearish 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 107 extraordinary options activities for Broadcom. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 37% leaning bullish and 62% bearish. Among these notable options, 16 are puts, totaling $1,670,192, and 91 are calls, amounting to $5,615,590.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1000.0 to $1800.0 for Broadcom during the past quarter.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Broadcom's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Broadcom's substantial trades, within a strike price spectrum from $1000.0 to $1800.0 over the preceding 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.

Following our analysis of the options activities associated with Broadcom, we pivot to a closer look at the company's own performance.

Where Is Broadcom Standing Right Now?

• With a trading volume of 1,638,823, the price of AVGO is up by 4.36%, reaching $1281.02.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 14 days from now.

What The Experts Say On Broadcom

In the last month, 4 experts released ratings on this stock with an average target price of $1337.5.

• An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $1300.
• In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $1300.
• An analyst from Mizuho has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $1450.
• Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $1300.

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.