Broadcom's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Broadcom (NASDAQ:AVGO) has seen a significant amount of options activity, indicating a bearish stance by big-money investors. Benzinga's options scanner revealed 191 unusual trades, with a sentiment split of 29% bullish and 70% bearish. The trades suggest a price target range of $800 to $2100 for AVGO over the next three months. Notable options activity includes both calls and puts with various expiration dates and strike prices. Broadcom, a major player in the semiconductor and software industries, has seen its stock price increase by 0.99% to $1364.96. Market experts have issued ratings with a consensus target price of $1570.0.
March 26, 2024 | 3:30 pm
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Broadcom has experienced significant options activity indicating a bearish outlook by investors, with a price increase to $1364.96 and a consensus target price of $1570 by market experts.
The bearish sentiment from big-money investors, as indicated by the unusual options activity, suggests a cautious outlook for AVGO's stock price in the short term. Despite the current price increase, the significant bearish options activity could lead to increased volatility or potential downside. The expert consensus target price of $1570 indicates a positive outlook, but the bearish options sentiment may temper short-term expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100