Check Out What Whales Are Doing With AVGO

Check Out What Whales Are Doing With AVGO

 

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 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 6 are puts, for a total amount of $416,760 and 7, calls, for a total amount of $418,740.

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 $210.0 to $550.0 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 399.58 with a total volume of 399.00.

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 $210.0 to $550.0 over the last 30 days.

Broadcom Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AVGO PUT TRADE NEUTRAL 10/21/22 $550.00 $247.2K 446 166
AVGO CALL TRADE BEARISH 10/21/22 $540.00 $150.5K 294 43
AVGO CALL TRADE BULLISH 09/16/22 $480.00 $81.5K 249 15
AVGO CALL TRADE BEARISH 10/21/22 $550.00 $47.5K 247 54
AVGO CALL TRADE BEARISH 09/16/22 $550.00 $47.2K 455 25

Where Is Broadcom Standing Right Now?

  • With a volume of 295,599, the price of AVGO is down -0.4% at $549.24.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 24 days.

What The Experts Say On Broadcom:

  • Deutsche Bank has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $635.

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.

Posted In: BZI-UOAOptionsMarkets