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 12 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $488,620 and 6, calls, for a total amount of $194,122.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $980.0 and $1100.0 for Broadcom, spanning the last three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Broadcom's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Broadcom's substantial trades, within a strike price spectrum from $980.0 to $1100.0 over the preceding 30 days.
Broadcom 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AVGO | PUT | TRADE | BULLISH | 02/16/24 | $1050.00 | $110.0K | 186 | 38 |
| AVGO | PUT | TRADE | BULLISH | 01/17/25 | $1030.00 | $106.0K | 51 | 20 |
| AVGO | PUT | TRADE | BEARISH | 01/17/25 | $1030.00 | $106.0K | 51 | 0 |
| AVGO | PUT | TRADE | NEUTRAL | 02/16/24 | $1100.00 | $59.5K | 311 | 13 |
| AVGO | PUT | TRADE | BULLISH | 01/17/25 | $1030.00 | $53.5K | 51 | 10 |
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.
After a thorough review of the options trading surrounding Broadcom, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Broadcom
- Currently trading with a volume of 122,209, the AVGO's price is up by 0.07%, now at $1059.3.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 56 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Broadcom with Benzinga Pro for real-time 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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