Smart Money Is Betting Big In AVGO Options

Financial giants have made a conspicuous bullish move on Broadcom. Our analysis of options history for Broadcom AVGO revealed 30 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 36% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $281,980, and 24 were calls, valued at $2,099,110.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $110.0 to $370.0 for Broadcom over the last 3 months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Broadcom stands at 2743.88, with a total volume reaching 9,772.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Broadcom, situated within the strike price corridor from $110.0 to $370.0, throughout the last 30 days.

Broadcom Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

Following our analysis of the options activities associated with Broadcom, we pivot to a closer look at the company's own performance.

Broadcom's Current Market Status

• With a volume of 5,366,446, the price of AVGO is up 1.33% at $193.9.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 89 days.

What Analysts Are Saying About Broadcom

In the last month, 5 experts released ratings on this stock with an average target price of $270.4.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Mizuho has decided to maintain their Outperform rating on Broadcom, which currently sits at a price target of $250. * Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Broadcom with a target price of $260. * An analyst from Keybanc has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $275. * An analyst from Truist Securities has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $267. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $300.

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.