Check Out What Whales Are Doing With AVGO

Deep-pocketed investors have adopted a bearish approach towards Broadcom AVGO, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AVGO usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 55 extraordinary options activities for Broadcom. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 45% leaning bullish and 54% bearish. Among these notable options, 25 are puts, totaling $1,201,560, and 30 are calls, amounting to $1,649,327.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $570.0 to $1050.0 for Broadcom during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Broadcom's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Broadcom's significant trades, within a strike price range of $570.0 to $1050.0, over the past month.

Broadcom Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

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

• Currently trading with a volume of 1,943,344, the AVGO's price is up by 0.28%, now at $928.29.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 6 days.

What The Experts Say On Broadcom

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1150.0.

• An analyst from Susquehanna has decided to maintain their Positive rating on Broadcom, which currently sits at a price target of $1100.
• Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Broadcom with a target price of $1200.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Broadcom options trades with real-time alerts from Benzinga Pro.