Broadcom Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance on Broadcom (NASDAQ:AVGO) has been observed through unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $860.0 to $1080.0 for Broadcom over the last 3 months. The price of AVGO is up 1.1% at $871.72, with RSI indicators suggesting the stock may be approaching overbought. Next earnings are expected in 44 days.
October 24, 2023 | 2:16 pm
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Broadcom has seen unusual options activity with a significant bearish stance. The stock price is up 1.1% at $871.72, with indications of being overbought. Earnings are expected in 44 days.
The unusual options activity, particularly the bearish stance, indicates that some investors expect Broadcom's stock price to decrease. The stock being potentially overbought also suggests a possible price correction. The upcoming earnings release could also impact the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100