Broadcom Unusual Options Activity For May 21
Portfolio Pulse from Benzinga Insights
High-rolling investors have shown unusual options activity for Broadcom (NASDAQ:AVGO), with a bearish sentiment prevailing. This activity, tracked by Benzinga, includes significant trades that may indicate privileged information. The stock is currently down by 1.23% at $1396.62, with an RSI suggesting it may be approaching overbought territory. Analysts have set an average price target of $1550.0.
May 21, 2024 | 2:02 pm
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High-rolling investors have shown unusual options activity for Broadcom (NASDAQ:AVGO), with a bearish sentiment prevailing. The stock is currently down by 1.23% at $1396.62, and analysts have set an average price target of $1550.0.
The unusual options activity, with a majority bearish sentiment, suggests that high-rolling investors may have negative expectations for Broadcom's short-term performance. The stock's current decline and the RSI indicating it may be overbought further support a bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100