Looking At Broadcom's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Broadcom (NASDAQ:AVGO) by a large investor, as indicated by unusual options activity. The overall sentiment of these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $570.0 to $1100.0 for Broadcom over the last 3 months. The price of AVGO is currently down -0.96% at $868.01. Mizuho has downgraded its action to Buy with a price target of $840.
July 05, 2023 | 3:46 pm
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Broadcom has seen unusual options activity, with a significant bearish stance taken by a large investor. The price target range is from $570 to $1100.
The unusual options activity and the bearish stance taken by a large investor indicate potential downward pressure on Broadcom's stock in the short term. The price target range also suggests a wide range of potential outcomes, adding to the uncertainty. Mizuho's downgrade to Buy with a price target of $840 could also negatively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100