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AVGO

Broadcom Inc.Close $414.57EOD only

Max Pain

$417.50

Next expiry May 22, 2026

Expected Move

±$8.05

1.9% from close

Price Gap

+2.93

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.15

Slightly put-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

AVGO Directional Report

Analysis based on market close May 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias from bullish flow, pinning gamma at MP $418, spot at MP. High vol supports premium selling; resistance $417.5.

Confidence:

9 / 10

Base 5, +2 GEX/flow aligned, +1 GEX positive, +1 spot at MP, +1 VIX low = 9.

Supports: Bullish flow, positive gamma, spot at MP, low VIX
Conflicts: High IV premium; resistance $417.5 may cap upside

📈Bullish flow +$18.2M GEX supports up

📍Gamma pin at $418 MP; spot at MP

⚠️High vol regime; consider premium sale

Regime Classification

Vol Regime

High

High IV vs typical; rich premiums relative to VIX 16.76

Gamma Regime

Pinning

Positive GEX +$18.2M; flip ~$300; pinning $418 MP

Flow Regime

Bullish

Bullish net premium; supportive P/C

Spot vs Max Pain

Spot at MP $418; pin enhanced

Thesis duration: Event-specific — Near-term expiry and max pain dates drive pinning

Price Range Forecast

Next 2 days

$406.52$422.62

Support $406.52, resistance $422.62; spot at MP

Next 1 week

$400.30$428.85

Range $400.30-$428.85; key resistance $417.5

Next 2 weeks

$373.17$455.97

Wider range $373.17-$455.97; gamma flip ~$300 support

Key Levels

Max pain pins: $418 (2026-05-22); $420 (2026-05-26); $415 (2026-05-27)

EM guardrails: 2d $406.52/$422.62; 1w $400.30/$428.85

Support: $373.17

Resistance: $417.50 · $435.00 · $450.00

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 14,582 (27.6% below spot)

Structural: Max pain pins: $418 (05/22), $420 (05/26), $415 (05/27). EM guardrails: 2d $406.52-$422.62, 1w $400.30-$428.85. Support $373.17, resistance $417.5/$435/$450. Gamma flip ~$300.

Dealer Positioning (GEX/DEX)

GEX: $+18.2M

DEX: +46.1M shares

Gamma flip: ~$300 (Approx — based on put OI concentration of 14,582 (27.6% below spot))

NTM gamma: Dealers long gamma +$18.2M, long delta +46.1M shares. Gamma flip ~$300 (put OI concentration).

IV Analysis

IV vs VIX: IV rich vs VIX 16.76; high vol regime favors premium selling

Term structure: Near-term IV elevated due to expiry; no term structure detail

Skew: Skew put-heavy; opportunity: sell near-term premium

Flow Analysis

Net premium: Net premium $69.6M positive, P/C volume ratio 0.69 (calls dominate), OI ratio 1.15 (puts OI higher).

Directional prints: 40.1 call 412.5 ITM 2026-05-22 — Vol/OI 6.7; aggressive call buying vs small OI, likely bought. Preferred read: bullish. 44.4 call 422.5 OTM 2026-05-29 — Vol/OI 6.0; strong call buying, likely bought. Preferred read: bullish. 44.5 call 432.5 OTM 2026-05-29 — Vol/OI 5.4; call buying, likely bought. Preferred read: bullish.

Unusual: 35.6 call 415 OTM 2026-05-22 — Vol/OI 3.5; large volume vs OI, likely bought. Preferred read: bullish. 54.5 put 420 ITM 2026-06-12 — Vol/OI 4.0; put buying, likely bought. Preferred read: bearish. 61.7 put 320 OTM 2026-05-29 — Vol/OI 3.2; deep OTM put, likely bought. Preferred read: bearish hedge.

Risks & Catalysts

!Gap risk if spot breaks gamma flip $300

!Macro/earnings shock could spike IV

!Resistance $417.5 may cap upside

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-06-05 $445.00/$465.00 call spread Why now: Buy call spread to cap cost; resistance $417.5 becomes support.	Earnings gap down or IV crush after event.
Put credit spread	Moderate-Strong	Sell 2026-06-05 $375.00/$355.00 put spread Why now: High IV inflates put premiums; pinning action suggests limited downside.	Gap down through $390 could cause max loss.
Bullish risk reversal	Moderate	Buy 2026-06-05 $445.00 call / sell 2026-06-05 $385.00 put Why now: Call premium covers put sale; net debit/credit varies.	Unlimited downside if spot drops below sold put strike.

Top Plays

Bull Call Spread

Buy 2026-06-05 $445.00/$465.00 call spread

Buy $445/$465 call spread to cap cost; resistance becomes support.

Why this play: Best bullish alignment with defined risk; cheap premium due to high IV.

Debit: $3.78-$4.62

Max loss: $4.62

BE: $449.62

Mgmt: Exit if spot breaks below $373.17 or before earnings.

Traders seeking defined-risk bullish exposure with high IV tailwind.

Put Credit Spread

Sell 2026-06-05 $375.00/$355.00 put spread

Sell $375/$355 put spread to collect premium with wide safety buffer.

Why this play: High put premiums from elevated IV; pinning suggests limited downside.

Credit: $2.79-$3.41

Max loss: $16.59

BE: $371.59

Mgmt: Monitor for volatility expansion; close early if short strike approached.

Income-focused traders comfortable with moderate risk.

Bullish Risk Reversal

Buy 2026-06-05 $445.00 call / sell 2026-06-05 $385.00 put

Buy $445 call funded by selling $385 put; synthetic long with lower cost.

Why this play: Unlimited upside potential if bullish thesis plays out; net credit possible.

Debit: $1.03-$1.26

Max loss: $385.00

BE: $385.00

Mgmt: Watch short put assignment risk; roll or close if trend reverses.

Aggressive traders seeking leveraged bullish exposure.

Watchlist Triggers

Entry Triggers

IFIF AVGO > $385 and holds above $373.17 → THEN buy 2026-06-05 $445/$465 call spread

IFIF AVGO > $375 and holds above $373.17 → THEN sell 2026-06-05 $375/$355 put spread

IFIF AVGO > $385 and bullish momentum → THEN buy 2026-06-05 $445 call / sell $385 put risk reversal

Exit Triggers

EXITIF AVGO < $373.17 or before earnings → THEN exit bull call spread

EXITIF AVGO approaches $375 short strike → THEN close put credit spread

EXITIF AVGO breaks $373.17 support → THEN close risk reversal or roll short put

Tactical Summary

Bullish bias supported by flow and pinning at $418 MP. Resistance $417.5, support $373.17. Earnings June 3 (13 days); high IV favors premium selling. Top plays: bull call spread, put credit spread, bullish risk reversal. Defined risk preferred. Monitor gamma flip at $300.

How to Use These Reports

This directional reflects the market close on May 21, 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.