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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 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias near-term driven by strong dealer positioning and gamma pinning near max pain $415-$420. Positive GEX/flow alignment and spot at MP support upside within range. Risk of gamma flip at $300 limits downside confidence.

Confidence:

9 / 10

Base 5; GEX/flow alignment +2; gamma pinning & spot at MP +2; low VIX +1; total 9. No override needed.

Supports: Positive GEX, pinning, near MP, low VIX
Conflicts: High vol, mixed flow, gamma flip risk

📌Spot at max pain $415, pinning likely

💰GEX +$11.5M, dealer long gamma

⚠️Gamma flip at ~$300 (27% below spot) extreme downside

Regime Classification

Vol Regime

High

IV elevated vs typical range - event-driven premium

Gamma Regime

Pinning

GEX positive $+11.5M, pinning at $415-$420, spot near MP

Flow Regime

Mixed

Mixed flow but net premium positive per GEX/alignment

Spot vs Max Pain

Spot 0.2% from MP, suggests pinning

Thesis duration: Event-specific — High IV and gamma pinning indicate near-term catalyst

Price Range Forecast

Next 1 week

$399.52$428.77

Gamma pinning near $415-$420, range $399.52-$428.77 with upside bias

Next 2 weeks

$373.52$454.77

Support $373.52, resistance $454.77; earnings risk

Key Levels

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

EM guardrails: 1w $399.52/$428.77

Support: $373.52

Resistance: $415.00 · $420.00 · $435.00

Gamma flip: ~$300.00 — Approx — based on put OI concentration of 14,607 (27.6% below spot)

Structural: Max pain $415 (05/22), $420 (05/26), $415 (05/27); EM guardrails 1w $399.52/$428.77; support $373.52; resistance $415, $420, $435; gamma flip ~$300

Dealer Positioning (GEX/DEX)

GEX: $+11.5M

DEX: +46.4M shares

Gamma flip: ~$300 (Approx — based on put OI concentration of 14,607 (27.6% below spot))

NTM gamma: GEX +$11.5M, DEX +46.4M shares, gamma flip ~$300 (put-heavy)

IV Analysis

IV vs VIX: Ticker IV elevated vs VIX (16.7) and sector - event premium; rich for directional plays

Term structure: Normal to backwardated near-term due to event, further expirations lower

Skew: Put skew elevated; consider call spreads or short puts if holding pin

Flow Analysis

Net premium: Net premium $65.8M positive, call volume ratio 0.84, put OI ratio 1.15.

Directional prints: 8.2 call 415 OTM 2026-05-22 — High vol/OI 5.2, low OI, likely bought. Bullish directional bet/close? Prefer bullish read. 54.6 put 415 ITM 2026-06-12 — Vol/OI 5.4, OI low, likely bought as bearish hedge. Prefer bearish read. 40.8 put 380 OTM 2026-05-26 — Vol/OI 5.8, OI 260, deep OTM put. Likely bought as tail hedge. Bearish but speculative.

Unusual: 40.8 put 380 OTM 2026-05-26 — Highest vol/OI 5.8, OI 260. Deep OTM put, unusual speculation. 54.6 put 415 ITM 2026-06-12 — Vol/OI 5.4, OI 228. ATM put, high IV, unusual volume. 8.2 call 415 OTM 2026-05-22 — Vol/OI 5.2, OI 1278. ATM call, low IV, unusual activity.

Risks & Catalysts

!Earnings miss or catalyst disappointment

!Broad market sell-off (SPY/QQQ weakness)

!Gamma flip at ~$300 triggers rapid downside

!IV crush after event

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate-Strong	Buy 2026-06-05 $430.00/$445.00 call spread Why now: Dealer pinning near $415-$420; positive flow.	Earnings miss limits upside.
Put credit spread	Moderate	Sell 2026-06-05 $385.00/$370.00 put spread Why now: Floor near $400; low put OI at 390; positive GEX.	Gamma flip below $300 causes losses.
Call calendar	Moderate-Strong	Sell 2026-06-05 $420.00 call / buy 2026-06-18 $420.00 call Why now: Steep vol term structure; elevated IV into earnings.	Large gap move beyond short strike hurts.

Top Plays

Bull call spread

Buy 2026-06-05 $430.00/$445.00 call spread

Buy $430/$445 call spread expiring 2026-06-05. Max gain $10.13, max loss $4.87.

Why this play: Best fit for bullish bias: direct upside play within gamma pinning range $415-$420, leveraging positive flow and dealer positioning.

Debit: $3.98-$4.87

Max loss: $4.87

BE: $434.87

Mgmt: Exit near $445 or hold through earnings; roll if spot breaks $415.

Bullish traders seeking defined risk near earnings.

Put credit spread

Sell 2026-06-05 $385.00/$370.00 put spread

Sell $385/$370 put spread expiring 2026-06-05. Max gain $3.74, max loss $11.26.

Why this play: Secures bullish view with lower risk: floor near $400, low put OI, positive GEX. Provides income if spot stays above $385.

Credit: $3.06-$3.74

Max loss: $11.26

BE: $381.26

Mgmt: Close if spot falls below $390; take profit at 50% max gain.

Moderately bullish traders wanting downside buffer.

Call calendar

Sell 2026-06-05 $420.00 call / buy 2026-06-18 $420.00 call

Sell 2026-06-05 $420 call, buy 2026-06-18 $420 call. Max loss $5.09.

Why this play: Exploits elevated IV into earnings: sell near-term volatility, buy later expiration. Neutral directional but benefits from IV crush.

Debit: $4.16-$5.09

Max loss: $5.09

BE: Path-dependent

Mgmt: Hold through earnings; exit if implied vol collapses; adjust strikes if spot moves.

Neutral-to-bullish traders betting on IV contraction post-earnings.

Watchlist Triggers

Entry Triggers

IFIf spot holds above $373.52 support. → Buy $430/$445 call spread (bull call spread) expiring 2026-06-05.

Exit Triggers

EXITIf spot closes below $373.52 invalidation level. → Exit bull call spread.

Tactical Summary

Bullish bias near-term; enter bull call spread on support hold. Exit if support fails.

How to Use These Reports

This directional reflects the market close on May 22, 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.