A Closer Look at Broadcom's Options Market Dynamics

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 14 trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $211,354 and 10, calls, for a total amount of $565,698.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $210.0 to $350.0 for Broadcom over the recent three months.

Volume & Open Interest Development

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 $210.0 to $350.0 over the preceding 30 days.

Broadcom Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Present Market Standing of Broadcom

• Currently trading with a volume of 16,660,289, the AVGO's price is up by 3.1%, now at $261.64.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 72 days.

What Analysts Are Saying About Broadcom

5 market experts have recently issued ratings for this stock, with a consensus target price of $304.0.

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 Evercore ISI Group persists with their Outperform rating on Broadcom, maintaining a target price of $304. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $300. * An analyst from Rosenblatt has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $340. * An analyst from Susquehanna has decided to maintain their Positive rating on Broadcom, which currently sits at a price target of $300. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Broadcom with a target price of $276.

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.