Review of Broadcom's recent unusual options activity
Someone with a lot of money to spend has taken a bearish stance on Broadcom AVGO.
And retailers should know.
We noticed this today when the big position appeared on the history of publicly available options that we track here at Benzinga.
Whether it's an institution or just a wealthy individual, we don't know. But when something this big happens with AVGO, it often means someone knows something is going to happen.
So how do we know what this whale just did?
Benzinga's options scanner today spotted 10 unusual options trades for Broadcom.
This is not normal.
The general sentiment of these big traders is split between 30% bullish and 70% bearish.
Of all the special options we discovered, 7 are puts, totaling $325,648, and 3 are calls, totaling $125,462 .
What is the target price?Given the volume and open interest on these contracts, it appears whales have targeted a price range of $590.0 to $650.0 for Broadcom over the past few months. Last 3 months.
Development of volume and open interestWatching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest of Broadcom options for a given strike price. Below, we can see the evolution of volume and open interest in calls and puts, respectively, for all Broadcom whale trades within a strike price range of $590.0 at $650.0 in the last 30 days.
Broadcom Options Volume and Open Interest in the Last 30 Days The biggest options spotted: Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume AVGO PUT SWEEP BEARISH 07/21/23 $620.00 $74,100 131 22 AVGO PUT TRADE BEARISH 06/16/23 $640.00 $55.8,000 688 16 AVGO CALL TRADE BULLISH 06/16/23 $640.00 $55.4,000 983 34 AVGO PUT TRADE BEARISH 06/16/23 $640.00 $52,200 688 42 AVGO PUT TRADE NEUTRAL 06/16/23 $640.00 $44.5,000 688 55
Someone with a lot of money to spend has taken a bearish stance on Broadcom AVGO.
And retailers should know.
We noticed this today when the big position appeared on the history of publicly available options that we track here at Benzinga.
Whether it's an institution or just a wealthy individual, we don't know. But when something this big happens with AVGO, it often means someone knows something is going to happen.
So how do we know what this whale just did?
Benzinga's options scanner today spotted 10 unusual options trades for Broadcom.
This is not normal.
The general sentiment of these big traders is split between 30% bullish and 70% bearish.
Of all the special options we discovered, 7 are puts, totaling $325,648, and 3 are calls, totaling $125,462 .
What is the target price?Given the volume and open interest on these contracts, it appears whales have targeted a price range of $590.0 to $650.0 for Broadcom over the past few months. Last 3 months.
Development of volume and open interestWatching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest of Broadcom options for a given strike price. Below, we can see the evolution of volume and open interest in calls and puts, respectively, for all Broadcom whale trades within a strike price range of $590.0 at $650.0 in the last 30 days.
Broadcom Options Volume and Open Interest in the Last 30 Days The biggest options spotted: Symbol PUT/CALL Kind of trade Feeling Exp. Date Strike price Total trade price open interest Volume AVGO PUT SWEEP BEARISH 07/21/23 $620.00 $74,100 131 22 AVGO PUT TRADE BEARISH 06/16/23 $640.00 $55.8,000 688 16 AVGO CALL TRADE BULLISH 06/16/23 $640.00 $55.4,000 983 34 AVGO PUT TRADE BEARISH 06/16/23 $640.00 $52,200 688 42 AVGO PUT TRADE NEUTRAL 06/16/23 $640.00 $44.5,000 688 55What's Your Reaction?
