Broadcom Unusual Options Activity

Broadcom Unusual Options Activity

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

Looking at options history for Broadcom AVGO we detected 15 strange trades.

If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $389,173 and 8, calls, for a total amount of $341,985.

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 $480.0 to $740.0 for Broadcom over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Broadcom's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Broadcom's whale activity within a strike price range from $480.0 to $740.0 in 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 BEARISH 01/20/23 $510.00 $121.6K 1.0K 80
AVGO PUT SWEEP BULLISH 12/23/22 $535.00 $96.3K 52 99
AVGO CALL SWEEP NEUTRAL 12/23/22 $540.00 $82.1K 92 136
AVGO CALL TRADE BULLISH 12/16/22 $550.00 $73.6K 1.2K 31
AVGO PUT SWEEP BULLISH 12/16/22 $530.00 $49.2K 385 58

Where Is Broadcom Standing Right Now?

  • With a volume of 361,269, the price of AVGO is down -0.53% at $537.96.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 3 days.

What The Experts Say On Broadcom:

  • Susquehanna has decided to maintain their Positive rating on Broadcom, which currently sits at a price target of $650.
  • Piper Sandler has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $715.

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