Looking At Broadcom's Recent Unusual Options Activity

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 36 trades.

If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 36% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $186,163 and 31, calls, for a total amount of $2,542,971.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $110.0 and $320.0 for Broadcom, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 2080.28 with a total volume of 9,679.00.

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 $110.0 to $320.0 over the last 30 days.

Broadcom Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

After a thorough review of the options trading surrounding Broadcom, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Broadcom's Current Market Status

• With a volume of 3,019,391, the price of AVGO is down -0.72% at $202.18.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 31 days.

Expert Opinions on Broadcom

4 market experts have recently issued ratings for this stock, with a consensus target price of $223.75.

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. * An analyst from Seaport Global has revised its rating downward to Buy, adjusting the price target to $230. * An analyst from Citigroup persists with their Buy rating on Broadcom, maintaining a target price of $210. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Broadcom with a target price of $240. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Broadcom, targeting a price of $215.

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.