Investors with significant funds have shown optimism towards Broadcom (AVGO), and this is important information for retailers to be aware of. Unusual options trades were detected by Benzinga’s options scanner, with a split sentiment among traders between bullish and bearish. The total amount traded for puts was $419,750, and for calls, it was $1,639,617.
After analyzing the trading volumes and open interest, it appears that market drivers are focusing on a price range between $720.0 and $1600.0 for Broadcom over the last three months. Evaluating volume and open interest is crucial in options trading to understand investor interest in specific strike prices.
Notable options trades for Broadcom include calls with bullish and neutral sentiments and puts with a bearish sentiment. Broadcom is a major semiconductor company with annual revenue exceeding $30 billion. It offers various semiconductor products in markets like wireless, networking, and storage, as well as software products to large companies and governments.
In terms of market status, Broadcom’s volume was 474,153, and the price was down -0.73% to $1,401.79. The company is approaching overbought levels according to RSI indicators, and earnings are expected to be released in 26 days. Analysts have an average price target of $1,550.0 for Broadcom, with one analyst revising their rating to Buy.
Options trading involves risks but also the potential for higher profits. It is essential for traders to stay informed, educated, and strategic in their trading decisions. Benzinga Pro provides real-time alerts for staying up to date with the latest options trades for Broadcom.
Article Source
https://www.benzinga.com/insights/options/24/05/38896854/looking-at-broadcoms-recent-unusual-options-activity
