AVGO Stock: Unusual Options Flow Targets Broadcom as Shares Climb Above $313
By TrendSpider Editor
Broadcom Inc. is drawing attention in the options market Wednesday, with seven unusual contracts flagged across both calls and puts carrying a combined premium of $2,554,363. Shares of AVGO are trading at $313.08, up 1.10% on the session, and sit comfortably above the 52-week low of $138.10 though w
AVGO Stock: Unusual Options Flow Targets Broadcom as Shares Climb Above $313
Broadcom Inc. is drawing attention in the options market Wednesday, with seven unusual contracts flagged across both calls and puts carrying a combined premium of $2,554,363. Shares of AVGO are trading at $313.08, up 1.10% on the session, and sit comfortably above the 52-week low of $138.10 though well off the 52-week high of $414.61. The options activity spans near-term and longer-dated expirations, with the heaviest premium concentration in deep in-the-money calls expiring in May.
Key Drivers of the AVGO Stock Move
- Main Catalyst: Seven unusual options contracts were flagged on AVGO today totaling $2,554,363 in combined premium. The dominant flow came from in-the-money $150 strike calls expiring May 15, 2026, with three separate contracts hitting tape, the largest carrying a $1,635,000 premium on a size of 100 contracts. On the put side, a $315 strike put expiring April 13, 2026 drew attention with open interest of 1,775% above normal on a size of 71 contracts.
- Bull Case: The in-the-money call activity at the $150 strike with expirations on May 15, 2026 is aggressively positioned, with one contract alone showing open interest at 1,111% above normal. Combined premium on those three call contracts alone totals $2,323,800, suggesting conviction from larger participants that AVGO shares will hold or extend gains through mid-May.
- Bear Case: The put side is not entirely quiet. Three contracts at the $100 strike expiring January 15, 2027 accumulated a combined 2,221 contracts in size and $157,788 in premium. While deep out of the money, the clustering of identical strike and expiry puts suggests some participants are hedging against or speculating on a significant downside scenario over the next nine months. Additionally, the April 13 ITM $315 put with 1,775% above-normal open interest signals near-term caution just above current price levels.
The forward setup for Broadcom remains a tug of war between strong institutional interest in the upside and defensive positioning on the downside. The $150 call contracts expiring May 15, 2026 are deep in the money with the stock near $313, making them more akin to stock replacement plays than speculative bets, which could indicate institutional accumulation or hedging of short positions. The near-term $315 put expiring April 13, just 12 days away, sits essentially at the money and warrants close monitoring as a potential signal of short-term directional risk. Broadcom's 52-week range of $138.10 to $414.61 illustrates the wide band the stock has traded in over the past year, and at $313.08, shares remain in the upper half of that range but have meaningful ground to recover before retesting prior highs.
AVGO Unusual Options Activity
- Put | Strike: $100 | Expiry: January 15, 2027 | Volume: 500 | OI%: 3% above normal (OTM)
- Put | Strike: $100 | Expiry: January 15, 2027 | Volume: 970 | OI%: 6% above normal (OTM)
- Put | Strike: $100 | Expiry: January 15, 2027 | Volume: 751 | OI%: 5% above normal (OTM)
- Put | Strike: $315 | Expiry: April 13, 2026 | Volume: 71 | OI%: 1,775% above normal (ITM)
- Call | Strike: $150 | Expiry: May 15, 2026 | Volume: 20 | OI%: 222% above normal (ITM)
- Call | Strike: $150 | Expiry: May 15, 2026 | Volume: 22 | OI%: 244% above normal (ITM)
- Call | Strike: $150 | Expiry: May 15, 2026 | Volume: 100 | OI%: 1,111% above normal (ITM)
The total unusual contract count stands at 7. Call-side contracts dominated the premium tally, while put-side activity was spread across both near-term and longer-dated expirations. The $315 ITM put expiring in 12 days and the cluster of $100 puts expiring in roughly nine and a half months represent opposite ends of the risk spectrum in today's flow.
AVGO Seasonality
April has historically been a transitional month for semiconductor stocks as the industry moves through earnings season and demand forecasts for the back half of the year come into focus. With AVGO's next options expiration of note falling on April 13, 2026, the next two weeks could see elevated volatility around any forward guidance or macro developments affecting the chip sector.
AVGO Relative Performance
AVGO shares are up 1.10% on the session to $313.08, holding in the upper half of the 52-week range of $138.10 to $414.61. The stock is currently trading roughly 25% below its 52-week high and approximately 127% above its 52-week low, reflecting a significant recovery from last year's lows but continued distance from peak levels reached over the past twelve months.