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 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $395,230 and 9, calls, for a total amount of $952,508.
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 $480.0 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 310.64 with a total volume of 425.00.
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 $480.0 to $670.0 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 | CALL | TRADE | BEARISH | 07/15/22 | $570.00 | $547.9K | 109 | 0 |
| AVGO | PUT | SWEEP | BEARISH | 07/15/22 | $550.00 | $159.2K | 681 | 48 |
| AVGO | CALL | SWEEP | NEUTRAL | 01/20/23 | $640.00 | $94.6K | 880 | 49 |
| AVGO | PUT | TRADE | BULLISH | 07/15/22 | $560.00 | $85.0K | 908 | 149 |
| AVGO | PUT | TRADE | BULLISH | 07/15/22 | $480.00 | $63.3K | 267 | 44 |
Where Is Broadcom Standing Right Now?
- With a volume of 488,141, the price of AVGO is up 1.15% at $560.79.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 31 days.
What The Experts Say On Broadcom:
- Truist Securities has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $657.
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.
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