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AVGO

Broadcom Inc.Close $414.14EOD only

Max Pain

$420.00

Next expiry May 26, 2026

Expected Move

±$11.88

2.9% from close

Price Gap

+5.86

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.14

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 22, 2026 close

End-of-day snapshot

This page reflects AVGO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 22, 2026 close

AVGO Directional Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from April 6, 2026. A newer directional report is available for May 22, 2026.

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Outlook

Neutral-to-bullish with upside magnet to $320. Confidence: 8.5/10. GEX +$277K pins near spot, net premium +$19.1M supports, but P/C ratio 1.16 and spot above max pain create near-term friction.

Confidence:

8.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.4% from MP

Supports: GEX +$277K (pinning), net premium +$19.1M, DEX +40.4M shares
Conflicts: P/C ratio 1.16 (slight put skew), spot above max pain $310

📊GEX pinning at $320 (+$2.4M) strongest magnet

⚠️Gamma flip ~$250 far below; downside acceleration risk if breached

Regime Classification

Vol Regime

Normal

IV 50.0% — normal regime, no extreme pricing

Gamma Regime

Pinning

GEX +$277K concentrated near spot; pinning regime

Flow Regime

Mixed

Net prem +$19.1M with P/C 1.16 — mixed flow

Spot vs Max Pain

Above

Above MP by 1.4%

Thesis duration: Multi-week — Max pain flat ~$310 across expirations, GEX sign stable positive, flow regime consistent

Price Range Forecast

Next 2 days

$305.98$322.88

GEX pin at $320 dominates; <$305.98 invalidates

Next 1 week

$300.38$328.48

EM $300.38-$328.48; pin release widens range

Next 2 weeks

$289.28$339.58

Flow supports; structural call OI caps at $360-$390

Key Levels

Max pain pins: $310 (2026-04-06); $315 (2026-04-08); $310 (2026-04-10)

EM guardrails: 2d $305.98/$322.88; 1w $300.38/$328.48

Support: $310.00 · $305.00 · $300.00

Resistance: $320.00 · $322.50 · $325.00

Gamma flip: ~$250.00 — Approx — based on put OI concentration of 14,068 (20.5% below spot)

Structural: Call OI wall $360-$390 caps upside; put floor $220-$280 distant but significant for long-term positioning

Dealer Positioning (GEX/DEX)

GEX: $+277K

DEX: +40.4M shares

Gamma flip: ~$250 (Approx — based on put OI concentration of 14,068 (20.5% below spot))

NTM gamma: Call gamma $320/$322.5; put gamma $315/$310. If spot +2%, dealer hedging sells; -2%, dealer buys.

IV Analysis

IV vs VIX: IV 50.0% — no VIX provided for comparison

Term structure: Humped — 4/8 47.5% > 4/13 42.3% (event kink), then flattens

Skew: 4/8 vs 4/13 ~5 vol-pt differential (sell 47.5%, buy 42.3%)

Flow Analysis

Net premium: +$19.1M bullish; P/C vol 1.16 slight put skew

Directional prints: call 315 OTM 2026-04-08 — Vol 1,436 vs OI 149 (9.6x) — likely bought for upside put 220 OTM 2026-12-18 — Vol 3,058 vs OI 436 (7.0x) — likely protective hedge

Unusual: 58.4 put 287.5 OTM 2026-04-10 — Vol 793 vs OI 131 (6.0x) — high IV put flow

Risks & Catalysts

!Gamma flip ~$250 breaks pin and accelerates downside

!Friday expiry releases pin risk

!P/C ratio 1.16 indicates put hedging pressure

!Earnings 6/3 adds event vol

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Long stock	Moderate-Strong	Buy shares at $314.43	Gamma flip breach
Short stock	Weak	Avoid — GEX positive opposes	Pinning upward
Covered call	Moderate-Strong	Own shares, sell $320 call 4/8	Upside cap at pin
Cash-secured put / put spread	Moderate-Strong	Sell $310/$305 put spread 4/8	Break below $305.98 EM
Long calls	Moderate	Buy $320 call 4/8	Pin fails below $320
Long puts / bear put spreads	Moderate-Weak	Avoid — GEX positive	Pinning upward
Iron condor	Moderate-Strong	$305/$300P x $322.5/$327.5C 4/8	VIX spike
Calendar/diagonal	Moderate-Strong	Sell 4/8 $320 call (IV 45.6%), buy 4/13 $320 call (IV 42.3%) — regular calendar	Spot moves away from strike
PMCC / LEAPS diagonal	Moderate	Buy 2027-01-15 $300 call, sell 4/8 $320 call	Theta decay on short leg

Top Plays

Iron Condor

$305/$300P x $322.5/$327.5C 4/8

Sell premium within EM bounds, GEX positive favors range

Credit: $0.45-$0.55

Max loss: $4.45

BE: $300.45

Mgmt: Close at 50% max profit; stop if spot breaches $300 or $327.5

Defined-risk premium sellers in pinning regime

Cash-Secured Put Spread

Sell $310/$305 put spread 4/8

Collect premium below spot with support at max pain $310

Credit: $0.35-$0.45

Max loss: $4.55

BE: $309.65

Mgmt: Take profit at 70% max; cut if spot closes below $305

Bullish traders wanting defined risk below pin

Regular Calendar Spread

Sell 4/8 $320 call (IV 45.6%), buy 4/13 $320 call (IV 42.3%)

Capture +3.3 vol-pt edge from term structure kink; extra time improves theta decay management

Debit: $0.85-$1.05

Max loss: $1.05

BE: $320.85

Mgmt: Close when near-term IV crushes; stop if spot moves >$5 from strike

Vol traders exploiting IV differential with multi-week horizon

Watchlist Triggers

Entry Triggers

IFSpot tags $320, holds 1 hour → Sell $322.5/$327.5 call spread 4/8

IFSpot drops to $310, RSI <30 → Buy $315 call 4/8

Exit Triggers

EXITSpot breaches $300.38 (1w EM low) → Exit all bullish positions

EXITCalendar spread reaches 80% max profit → Close position

Tactical Summary

Primary thesis: neutral-to-bullish pin toward $320, invalidate below $300.38. Regime favors short premium around the pin. Top plays: iron condor for range traders, put spread for bullish defined risk, calendar for vol edge. Choose based on risk tolerance and existing positions.

How to Use These Reports

This directional reflects the market close on April 6, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.