Whales with a lot of money to spend have taken a noticeably bullish stance on Broadcom ( AVGO ).

Looking at options history for Broadcom ( AVGO ) we detected 16 trades.

If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 18% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $1,132,140 and 7, calls, for a total amount of $327,905.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $80.0 and $230.0 for Broadcom ( AVGO ), spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Broadcom ( AVGO ) stands at 2348.0, with a total volume reaching 1,325.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Broadcom ( AVGO ), situated within the strike price corridor from $80.0 to $230.0, throughout the last 30 days.

Broadcom 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

About Broadcom

Broadcom ( AVGO ) is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue. It sells 17 core semiconductor product lines across wireless, networking, broadband, storage, and industrial markets. It is primarily a fabless designer but holds some manufacturing in-house, like for its best-of-breed FBAR filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments.Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom ( AVGO ) and Avago Technologies in chips, as well as Brocade, CA Technologies, and Symantec in software.

In light of the recent options history for Broadcom ( AVGO ), it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Broadcom Standing Right Now?

With a trading volume of 1,342,610, the price of AVGO is down by -0.16%, reaching $171.71.

Current RSI values indicate that the stock is may be approaching oversold.

Next earnings report is scheduled for 75 days from now.

Professional Analyst Ratings for Broadcom

5 market experts have recently issued ratings for this stock, with a consensus target price of $261.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.

* Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Broadcom ( AVGO ), targeting a price of $250.

* An analyst from Keybanc has decided to maintain their Overweight rating on Broadcom ( AVGO ), which currently sits at a price target of $275.

* An analyst from Truist Securities persists with their Buy rating on Broadcom ( AVGO ), maintaining a target price of $267.

* An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $255.

* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Broadcom ( AVGO ) with a target price of $260.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Broadcom ( AVGO ), Benzinga Pro gives you real-time options trades alerts.