Broadcom Unusual Options Activity For February 28
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Broadcom (NASDAQ:AVGO), with unusual options activity detected. Benzinga's options scanner revealed 16 extraordinary activities, with a notable division in sentiment: 25% bullish and 75% bearish. The options target a price range of $600 to $1800 for AVGO over the last 3 months. Current market analysis shows AVGO's price down by -0.55% at $1289.16, with RSI indicators suggesting it may be approaching overbought. Analysts have set an average price target of $1382.5, with varying ratings from Buy to Overweight.
February 28, 2024 | 3:01 pm
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Broadcom (AVGO) exhibits bearish sentiment among investors with unusual options activity. Current price is down, with analysts setting an average target of $1382.5.
The bearish sentiment among investors, indicated by the unusual options activity, suggests a potential short-term price decline for AVGO. The current price decrease and the approaching overbought RSI indicators support this view. However, the analysts' average price target slightly above the current price provides a counterbalance, suggesting that any decline might be temporary or limited.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100