Looking At Broadcom’s Recent Unusual Options Activity

A whale with a lot of money to spend has taken a noticeably bullish stance on Broadcom. Looking…

A whale with a lot of money to spend has taken a noticeably bullish stance on Broadcom.

Looking at options history for Broadcom (NASDAQ:AVGO) we detected 27 strange trades.

If we consider the specifics of each trade, it is accurate to state that 59% of the investors opened trades with bullish expectations and 40% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $275,890 and 20, calls, for a total amount of $1,983,571.

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 $440.0 to $670.0 for Broadcom over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 290.35 with a total volume of 1,330.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Broadcom’s big money trades within a strike price range of $440.0 to $670.0 over the last 30 days.

Broadcom Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
AVGO CALL SWEEP BULLISH 06/21/24 $640.00 $314.0K 74 186
AVGO CALL SWEEP BULLISH 06/21/24 $640.00 $281.8K 74 66
AVGO CALL SWEEP BULLISH 06/21/24 $640.00 $219.8K 74 146
AVGO CALL TRADE BULLISH 06/21/24 $640.00 $133.4K 74 203
AVGO CALL TRADE BEARISH 06/21/24 $640.00 $133.1K 74 66

Where Is Broadcom Standing Right Now?

  • With a volume of 1,112,150, the price of AVGO is down -1.35% at $623.91.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 71 days.

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.

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