Whales with a lot of money to spend have taken a noticeably bearish stance on Broadcom.
Looking at options history for Broadcom AVGO we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $95,700 and 9, calls, for a total amount of $776,618.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $620.0 and $1100.0 for Broadcom, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $620.0 to $1100.0 in the last 30 days.
Broadcom Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AVGO | CALL | TRADE | BULLISH | 01/19/24 | $940.00 | $388.0K | 591 | 1 |
| AVGO | CALL | TRADE | BEARISH | 12/01/23 | $945.00 | $90.3K | 182 | 148 |
| AVGO | CALL | TRADE | NEUTRAL | 12/01/23 | $945.00 | $90.2K | 182 | 95 |
| AVGO | PUT | TRADE | NEUTRAL | 01/19/24 | $980.00 | $54.2K | 236 | 110 |
| AVGO | CALL | TRADE | NEUTRAL | 01/17/25 | $1100.00 | $43.2K | 165 | 0 |
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.
In light of the recent options history for Broadcom, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Broadcom
- With a trading volume of 327,077, the price of AVGO is up by 0.16%, reaching $947.88.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 8 days from now.
Professional Analyst Ratings for Broadcom
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $1150.0.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Broadcom with a target price of $1100.
- Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Broadcom with a target price of $1200.
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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