A surge in bullish activity has been observed in Broadcom AVGO by high-profile investors, with Benzinga detecting 20 trades in the company’s options today. The identities of these investors remain unknown, but such a significant move often hints at insider information. The sentiment among top traders is split, with 45% bullish and 30% bearish, and a notable target price range of $800.0 to $1850.0 has been identified. Analysis of volume and open interest indicates strong interest in Broadcom options within this price range.
Broadcom, the world’s sixth-largest semiconductor company with over $30 billion in annual revenue, offers a wide range of semiconductor products across various markets. Additionally, it has ventured into software businesses and has seen significant growth through consolidation with companies like Avago Technologies, Brocade, CA Technologies, and Symantec. Despite trading volume standing at 716,919 shares and the stock price decreasing slightly to $1,722.37, RSI indicators suggest the stock may be overbought. Analysts have provided varying opinions on the stock, with price targets ranging from $1,500 to $2,150.
Options trading can be riskier than stock trading but offers higher profit potential, requiring traders to stay informed, use multiple indicators, and monitor the market closely. Those interested in staying updated on Broadcom options trading can use Benzinga Pro for real-time alerts.
Article Source
https://www.benzinga.com/insights/options/24/07/39647197/what-the-options-market-tells-us-about-broadcom
