Whales with a lot of money to spend have taken a noticeably bearish stance on Broadcom.
Looking at options history for Broadcom AVGO we detected 53 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $566,520 and 44, calls, for a total amount of $2,273,886.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $660.0 to $2000.0 for Broadcom over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 263.95 with a total volume of 843.00.
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 $660.0 to $2000.0 over the last 30 days.
Broadcom Call and Put Volume: 30-Day Overview
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 | TRADE | NEUTRAL | 10/18/24 | $320.7 | $311.1 | $316.0 | $1060.00 | $158.0K | 0 | 0 |
| AVGO | PUT | TRADE | BULLISH | 05/17/24 | $26.8 | $26.1 | $26.35 | $1260.00 | $147.5K | 214 | 63 |
| AVGO | CALL | TRADE | BULLISH | 04/26/24 | $90.0 | $83.6 | $90.0 | $1255.00 | $135.0K | 23 | 0 |
| AVGO | CALL | TRADE | BULLISH | 04/26/24 | $86.3 | $79.8 | $86.0 | $1260.00 | $129.0K | 9 | 0 |
| AVGO | CALL | TRADE | BEARISH | 01/17/25 | $197.1 | $194.4 | $194.4 | $1300.00 | $116.6K | 1.0K | 2 |
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.
Where Is Broadcom Standing Right Now?
- With a volume of 811,352, the price of AVGO is down -0.56% at $1331.9.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 52 days.
What Analysts Are Saying About Broadcom
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1521.0.
- An analyst from JP Morgan downgraded its action to Overweight with a price target of $1700.
- In a cautious move, an analyst from Rosenblatt downgraded its rating to Buy, setting a price target of $1500.
- An analyst from TD Cowen has elevated its stance to Outperform, setting a new price target at $1500.
- Reflecting concerns, an analyst from Barclays lowers its rating to Overweight with a new price target of $1405.
- An analyst from Deutsche Bank has revised its rating downward to Buy, adjusting the price target to $1500.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
