Broadcom Unusual Options Activity For May 23
Portfolio Pulse from Benzinga Insights
A whale has taken a bearish stance on Broadcom (NASDAQ:AVGO), with 68% of detected unusual options trades being bearish. Whales have been targeting a price range of $310 to $740 for Broadcom over the last 3 months. B of A Securities maintains a Buy rating with an $800 price target.
May 23, 2023 | 3:32 pm
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Broadcom sees unusual options activity with a bearish stance by a whale. B of A Securities maintains a Buy rating with an $800 price target.
The bearish stance by the whale in Broadcom's options may create short-term uncertainty, but B of A Securities' maintained Buy rating and $800 price target suggest a positive long-term outlook. The mixed signals result in a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100