Benzinga | Dec 13, 2021 02:21PM EST

Broadcom Whale Trades Spotted

A whale with a lot of money to spend has taken a noticeably bearish stance on Broadcom.

Looking at options history for Broadcom (NASDAQ:AVGO) we detected 32 strange trades.

If we consider the specifics of each trade, it is accurate to state that 28.12% of the investors opened trades with bullish expectations and 71.88% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $120,916.00 and 29, calls, for a total amount of $1,595,077.00.

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 $320.0 to $780.0 for Broadcom over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Broadcom options trades today is 544.04 with a total volume of 1,466.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Broadcom's big money trades within a strike price range of $320.0 to $780.0 over the last 30 days.

Broadcom Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestAVGO CALL TRADE NEUTRAL 01/21/ $460.00 $251.1K 398 15 22AVGO CALL TRADE BEARISH 01/20/ $620.00 $131.7K 1.1K 25 23AVGO CALL TRADE BULLISH 12/17/ $570.00 $120.0K 1.1K 31 21AVGO CALL SWEEP BEARISH 12/17/ $575.00 $87.3K 234 37 21AVGO CALL SWEEP NEUTRAL 03/18/ $590.00 $67.8K 65 25 22

Where Is Broadcom Standing Right Now?

* With a volume of 1,357,706.00, the price of AVGO is down -1.18% at $624.21.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 80 days.

What The Experts Say On Broadcom:

* BMO Capital has decided to maintain their Outperform rating on Broadcom, which currently sits at a price target of $675.0.

* Wells Fargo has decided to maintain their Equal-Weight rating on Broadcom, which currently sits at a price target of $635.0.

* Morgan Stanley has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $723.0.

* Piper Sandler has decided to maintain their Overweight rating on Broadcom, which currently sits at a price target of $680.0.

* Citigroup has decided to maintain their Buy rating on Broadcom, which currently sits at a price target of $685.0.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.