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 21 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, 4 are puts, for a total amount of $168,730 and 17, calls, for a total amount of $1,089,041.
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 $840.0 to $1000.0 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 $840.0 to $1000.0 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 | CALL | SWEEP | BEARISH | 12/15/23 | $910.00 | $421.8K | 136 | 1 |
| AVGO | CALL | SWEEP | BEARISH | 11/17/23 | $880.00 | $104.4K | 905 | 31 |
| AVGO | PUT | SWEEP | BEARISH | 10/20/23 | $890.00 | $76.0K | 342 | 53 |
| AVGO | CALL | SWEEP | BULLISH | 01/19/24 | $1000.00 | $50.0K | 1.1K | 13 |
| AVGO | CALL | SWEEP | BULLISH | 02/16/24 | $940.00 | $49.1K | 87 | 0 |
Where Is Broadcom Standing Right Now?
- With a volume of 263,900, the price of AVGO is down -2.35% at $881.38.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 51 days.
What The Experts Say On Broadcom:
- Truist Securities downgraded its action to Buy with a price target of $995
- Susquehanna downgraded its action to Positive with a price target of $1010
- Truist Securities downgraded its action to Buy with a price target of $995
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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