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Benzinga Insights

Check Out What Whales Are Doing With AVGO

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 31 strange trades.

If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 70% with bearish.

From the overall spotted trades, 18 are puts, for a total amount of $1,299,171 and 13, calls, for a total amount of $652,995.

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 $420.0 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 462.96 with a total volume of 3,094.00.

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 $420.0 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 TRADE BULLISH 01/20/23 $540.00 $246.4K 804 41
AVGO PUT TRADE BEARISH 10/21/22 $480.00 $194.1K 20 59
AVGO PUT SWEEP BULLISH 03/11/22 $560.00 $104.0K 111 5
AVGO PUT SWEEP BULLISH 03/04/22 $550.00 $102.3K 622 379
AVGO CALL SWEEP BULLISH 03/11/22 $610.00 $89.0K 46 99

Where Is Broadcom Standing Right Now?

  • With a volume of 727,478, the price of AVGO is down -3.14% at $568.98.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 2 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 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.

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