A whale with a lot of money to spend has taken a noticeably bearish stance on Broadcom.
Looking at options history for Broadcom (NASDAQ:AVGO) we detected 37 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 59% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $692,405 and 21, calls, for a total amount of $861,336.
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 $280.0 to $620.0 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 435.88 with a total volume of 3,373.00.
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 $280.0 to $620.0 over the last 30 days.
Broadcom Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AVGO | PUT | SWEEP | BEARISH | 06/17/22 | $620.00 | $110.6K | 211 | 23 |
| AVGO | CALL | TRADE | BEARISH | 03/11/22 | $620.00 | $105.0K | 8 | 50 |
| AVGO | PUT | SWEEP | BEARISH | 07/15/22 | $560.00 | $80.3K | 109 | 22 |
| AVGO | CALL | TRADE | BULLISH | 03/04/22 | $595.00 | $75.0K | 71 | 30 |
| AVGO | PUT | SWEEP | BULLISH | 06/17/22 | $620.00 | $66.3K | 211 | 41 |
Where Is Broadcom Standing Right Now?
- With a volume of 1,332,939, the price of AVGO is down -2.84% at $594.0.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 21 days.
What The Experts Say On Broadcom:
- Barclays has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $700.
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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
