Option Focus | Broadcom’s $1.55 Million Put Sale Targets $280 Strike Through 2027, Signaling Bullish Premium Collection Despite a Smaller Protective Put Buy

Option Witch
11 hours ago

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Options Indicators

AVGO’s implied volatility is 39.97%, and with an IV percentile of just 2.39%, current option volatility sits near the low end of its recent range, indicating options are cheaply priced rather than rich. The IV/HV ratio of 1.05 suggests implied volatility is only slightly above realized volatility, so current premiums appear relatively reasonable without a major volatility excess built in.

The Call/Put volume ratio is 1.88.

Large Trades

A put sale worth $1.55 million was the largest displayed trade, with 1,500 contracts of the March 19, 2027 $280.00 put sold. With AVGO referenced at $364.38, this strike sits out of the money, making the trade a moderately bullish premium-selling position. The seller is effectively expressing confidence that the stock can stay above $280.00 into expiration, aiming to collect option premium while also signaling willingness to take assignment at a substantially lower effective entry level if the shares decline.

A put purchase worth $943 thousand was the other highlighted block, consisting of 1,250 contracts of the December 18, 2026 $300.00 put bought. This strike is also out of the money versus the current stock price, so the trade reflects a bearish or protective stance that targets downside risk over a longer horizon. Buying this put gives the trader convex downside exposure if AVGO weakens materially, suggesting either a speculative bet on a pullback or a hedge against an existing long equity position. Overall, the large-trade flow leans bullish: the biggest premium was collected through out-of-the-money put selling, and the broader block activity shows bullish flow outweighing bearish flow, pointing to a market stance that is constructive on AVGO while still acknowledging some demand for downside protection.

Strategy Reference

For traders who prefer defined risk over selling naked puts, a short put spread using the March 2027 $260/$280 strikes could capture similar premium with a lower margin requirement, while the $260.00 put sale still offers a very low assignment probability relative to current price levels.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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