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What Are Whales Doing With Broadcom

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 21 strange trades.

Benzinga · 06/09/2022 15:23

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 21 strange trades.

If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $571,018 and 10, calls, for a total amount of $587,406.

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 $400.0 to $640.0 for Broadcom over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Broadcom's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Broadcom's whale trades within a strike price range from $400.0 to $640.0 in 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 TRADE BEARISH 07/15/22 $580.00 $155.8K 454 107
AVGO PUT TRADE BULLISH 01/20/23 $580.00 $130.2K 497 2
AVGO CALL TRADE BULLISH 07/15/22 $580.00 $107.8K 454 206
AVGO PUT SWEEP BULLISH 06/16/23 $590.00 $97.3K 53 66
AVGO CALL TRADE NEUTRAL 07/15/22 $560.00 $75.9K 564 29

Where Is Broadcom Standing Right Now?

  • With a volume of 895,873, the price of AVGO is up 0.25% at $566.75.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 84 days.

What The Experts Say On Broadcom:

  • Mizuho has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $725.
  • Keybanc has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $780.

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 Progives you real-time options trades alerts.