Whales with a lot of money to spend have taken a noticeably bullish stance on Broadcom.
Looking at options history for Broadcom AVGO we detected 28 trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 35% with bearish.
From the overall spotted trades, 18 are puts, for a total amount of $1,219,367 and 10, calls, for a total amount of $1,723,518.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $700.0 to $1520.0 for Broadcom during the past quarter.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $700.0 to $1520.0 in the last 30 days.
Broadcom Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AVGO | CALL | SWEEP | BEARISH | 01/17/25 | $575.1 | $568.4 | $575.0 | $700.00 | $1.1M | 164 | 20 |
| AVGO | PUT | SWEEP | NEUTRAL | 01/17/25 | $102.0 | $102.0 | $102.0 | $1190.00 | $306.0K | 98 | 0 |
| AVGO | PUT | SWEEP | BULLISH | 01/17/25 | $106.9 | $104.1 | $106.5 | $1200.00 | $234.3K | 565 | 0 |
| AVGO | CALL | SWEEP | BULLISH | 05/17/24 | $41.4 | $37.9 | $40.2 | $1250.00 | $137.2K | 278 | 34 |
| AVGO | CALL | SWEEP | NEUTRAL | 06/21/24 | $57.0 | $52.1 | $54.5 | $1300.00 | $108.8K | 1.0K | 0 |
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.
In light of the recent options history for Broadcom, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Broadcom
- With a trading volume of 48,473, the price of AVGO is up by 1.23%, reaching $1253.82.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 27 days from now.
Professional Analyst Ratings for Broadcom
3 market experts have recently issued ratings for this stock, with a consensus target price of $1540.0.
- An analyst from Evercore ISI Group has revised its rating downward to Outperform, adjusting the price target to $1620.
- An analyst from Deutsche Bank has revised its rating downward to Buy, adjusting the price target to $1500.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Broadcom with a target price of $1500.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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