Broadcom Options Trading: A Deep Dive into Market Sentiment

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 81 trades.

If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 34% with bearish.

From the overall spotted trades, 27 are puts, for a total amount of $1,736,004 and 54, calls, for a total amount of $2,602,099.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $430.0 and $1840.0 for Broadcom, spanning the last three months.

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 $430.0 to $1840.0 over the preceding 30 days.

Broadcom Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
AVGO CALL TRADE BEARISH 07/19/24 $56.9 $55.2 $55.4 $1350.00 $277.0K 32 55
AVGO PUT TRADE BULLISH 06/21/24 $74.3 $71.7 $72.7 $1350.00 $218.1K 432 30
AVGO PUT SWEEP BULLISH 06/21/24 $65.2 $63.7 $64.0 $1350.00 $108.8K 432 54
AVGO CALL SWEEP BULLISH 10/18/24 $135.6 $133.5 $134.49 $1290.00 $108.2K 33 8
AVGO PUT SWEEP BULLISH 06/14/24 $57.0 $56.4 $56.4 $1330.00 $101.6K 66 23

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.

Broadcom's Current Market Status

  • With a volume of 1,505,455, the price of AVGO is down 0.0% at $1321.89.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 8 days.

What The Experts Say On Broadcom

In the last month, 2 experts released ratings on this stock with an average target price of $1700.0.

  • Reflecting concerns, an analyst from Jefferies lowers its rating to Buy with a new price target of $1550.
  • An analyst from Melius Research has revised its rating downward to Buy, adjusting the price target to $1850.

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.

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