High-end investors are showing bearish sentiment towards Broadcom (AVGO) according to options data tracked by Benzinga. This shift in activity may indicate that these investors have inside information about the company. Benzinga’s options scanner identified 9 options trades for Broadcom, which is an atypical pattern. Among these trades, there was one put worth $27,300 and 8 calls totaling $492,188.
Sentiment among these top traders is divided, with 33% bullish and 44% bearish. The target price range for Broadcom is between $760.0 to $1,500.0 based on the volume and open interest in these contracts for the last quarter.
Analyzing the volume and open interest trends can provide insights into a stock’s performance. By tracking the liquidity and interest of Broadcom options, investors can make informed decisions. The data shows the evolution of call and put volume and open interest for Broadcom whale activity within a strike price range of $760.0 to $1,500.0 over the past 30 days.
Some featured options activity for AVGO includes trades with varying sentiments and expiration dates, highlighting both bullish and bearish positions. Broadcom is a prominent semiconductor company with annual revenue exceeding $30 billion and a diverse product portfolio. Through mergers and acquisitions, Broadcom has grown to offer a range of semiconductor products and software solutions to various industries.
The current market situation for Broadcom shows the stock trading at $1,396.62 with a volume of 109,777 shares. The RSI readings suggest the stock may be approaching overbought levels, and the expected publication of results is in 22 days. Analysts have set an average price target of $1,550.0 for Broadcom, with some analysts downgrading their ratings but maintaining a positive outlook on the stock.
Options trading comes with risks and rewards, and it’s essential for traders to stay informed, adapt strategies, and monitor market indicators closely. Benzinga Pro offers real-time alerts on Broadcom options trades to help investors make informed decisions.
Article Source
https://www.benzinga.com/insights/options/24/05/38942235/broadcom-unusual-options-activity-for-may-21
