Looking At Broadcom's Recent Whale Trades

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A whale with a lot of money to spend has taken a noticeably bearish stance on Broadcom.

Looking at options history for Broadcom AVGO we detected 12 strange trades.

If we consider the specifics of each trade, it is accurate to state that 16% of the investors opened trades with bullish expectations and 83% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $1,017,900 and 9, calls, for a total amount of $539,610.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $620.0 to $700.0 for Broadcom over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 493.3 with a total volume of 635.00.

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 $620.0 to $700.0 over the last 30 days.

Broadcom Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AVGO PUT TRADE NEUTRAL 03/18/22 $650.00 $942.0K 113 200
AVGO CALL TRADE BEARISH 01/20/23 $620.00 $193.7K 1.1K 26
AVGO CALL TRADE BEARISH 06/17/22 $640.00 $88.0K 323 20
AVGO CALL TRADE BEARISH 07/15/22 $660.00 $75.2K 27 20
AVGO PUT TRADE BEARISH 03/18/22 $630.00 $50.4K 157 30

Where Is Broadcom Standing Right Now?

  • With a volume of 1,035,917, the price of AVGO is down -1.55% at $627.13.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 55 days.

What The Experts Say On Broadcom:

  • Credit Suisse has decided to maintain their Outperform rating on Broadcom, which currently sits at a price target of $620.
  • Barclays has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $650.
  • Mizuho has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $665.
  • Keybanc has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $710.
  • Morgan Stanley has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $723.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.

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Date of Trade
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