Broadcom Unusual Options Activity For August 04

Financial giants have made a conspicuous bullish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 68 unusual trades.

Delving into the details, we found 41% of traders were bullish, while 35% showed bearish tendencies. Out of all the trades we spotted, 14 were puts, with a value of $687,883, and 54 were calls, valued at $3,849,696.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $175.0 and $320.0 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 $175.0 to $320.0 over the preceding 30 days.

Broadcom Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

Having examined the options trading patterns of Broadcom, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Broadcom Standing Right Now?

• Trading volume stands at 4,117,905, with AVGO's price up by 2.61%, positioned at $296.17.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 31 days.

Expert Opinions on Broadcom

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $317.0.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Broadcom, targeting a price of $330. * Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Broadcom, targeting a price of $305. * Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Broadcom with a target price of $320. * An analyst from Citigroup has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $315. * In a cautious move, an analyst from Goldman Sachs downgraded its rating to Buy, setting a price target of $315.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Broadcom options trades with real-time alerts from Benzinga Pro.