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AVGO

Broadcom Inc.Close $392.13EOD only
Max Pain
$390.00
Next expiry Jun 24, 2026
Expected Move
±$12.38
3.2% from close
Price Gap
-2.13
Distance to max pain
IV Rank
10
Low premium
P/C OI
1.08
Balanced positioning
Consensus
7.5/10
Bullish tilt
Published snapshot: Jun 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
Jun 22, 2026 close
AVGO Directional Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Bearish near-term: negative dealer gamma, high vol, spot below max pain. Support $360/$347; break to $330. Elevated VIX favors puts.

Confidence:
4 / 10
Base5 -1 GEX/flow -0.5 spotMP +0.5 VIX19 = 4.0
Supports: Neg GEX, high vol, spot<MP, put OI $330
Conflicts: Pos DEX +49M, mixed flow, support levels
⚠️High vol+neg gamma amplifies downside
🔻Neg dealer GEX suggests trend acceleration
📉Spot nears put concentration at $330

Regime Classification

Vol Regime
High
IV high: QQQ -3.29%, VIX 19.5, AVGO IV rich.
Gamma Regime
Trending
GEX -$19.9M, flip ~$330; dealers short gamma, amplify sells.
Flow Regime
Mixed
Mixed net prem, heavy $330 puts indicate hedging pressure.
Spot vs Max Pain
Below
Spot below MP $392 and EM guardrails, bearish sentiment.
Thesis duration: Event-specific — High vol, neg gamma, macro selling drive short-term bearish momentum.

Price Range Forecast

Next 2 days
$371.12$389.17
Test support $371
Next 1 week
$360.90$399.40
Drift to $360-$347
Next 2 weeks
$347.72$412.57
Range $347-$413, gamma flip attracts

Key Levels

Max pain pins: $392 (2026-06-24); $400 (2026-06-26); $380 (2026-06-29)
EM guardrails: 2d $371.12/$389.17; 1w $360.90/$399.40
Support: $360.00 · $347.72
Resistance: $392.50 · $412.57
Gamma flip: ~$330.00 — Approx — based on put OI concentration of 16,518 (13.2% below spot)
Structural: Support: $360, $347 (gamma flip). Resistance: $392, $413. Max pain $392. EM: 2d $371-$389.

Dealer Positioning (GEX/DEX)

GEX: $-19.9M

DEX: +49.3M shares

Gamma flip: ~$330 (Approx — based on put OI concentration of 16,518 (13.2% below spot))

NTM gamma: Short gamma (GEX -$19.9M), long delta (+49M shares) -> adds downside pressure on drops but baselines support.

IV Analysis

IV vs VIX: AVGO IV rich vs VIX due to neg gamma; supports puts but may contract if spot stabilizes.

Term structure: Backwardated with high near-dated IV, flattening later.

Skew: Put skew elevated; put spreads could benefit from IV contraction.

Flow Analysis

Net premium: Net premium $23.7M positive, call-heavy (P/C vol 0.85), bullish flow bias.

Directional prints: 41.9 call 385 OTM 2026-06-24 — Vol/OI 14.5x, high. Likely bought for upside; could be sold. Preferred: aggressive call buying for 0 DTE. 42.5 call 382.5 OTM 2026-06-24 — Vol/OI 12.8x, elevated. Likely bought; possible sold. Preferred: bullish call buying.

Unusual: 41.9 call 385 OTM 2026-06-24 — Vol/OI 14.5x, highest. Unusual activity for 0 DTE call. 42.5 call 382.5 OTM 2026-06-24 — Vol/OI 12.8x, unusual call volume near spot. 50.6 put 382.5 ITM 2026-07-02 — Vol/OI 7.9x, elevated put with higher IV; defensive positioning.

Risks & Catalysts

!Pos dealer delta may limit downside
!Support levels may hold
!IV contraction possible
!Macro reversal

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bear put spreadModerate
Buy 2026-09-18 $350.00/$320.00 put spread
Why now: Negative dealer gamma and high IV favor puts; spot below max pain.
Support at 360 may slow decline; IV contraction risk.
Long putModerate-Strong
Buy 2026-09-18 $350.00 put
Why now: Elevated VIX and negative dealer gamma support put premium; target break below 360.
Theta decay if move delayed; support levels may hold.

Top Plays

#1
Bear put spread on AVGO
Buy 2026-09-18 $350.00/$320.00 put spread
Buy 2026-09-18 $350/$320 put spread to profit from expected decline to $330.
Why this play: Defined risk, lower premium, better fit for bearish thesis with support at $360; negative dealer gamma supports downside.
Debit: $9.02-$11.03
Max loss: $11.03
BE: $338.97
Mgmt: Exit if stock holds above $360 or rises above invalidation $392.5; take profit near $330.
Traders seeking capped risk with high probability of profit on moderate downside.
#2
Long put on AVGO
Buy 2026-09-18 $350.00 put
Buy 2026-09-18 $350 put for leveraged downside exposure, targeting break below $360.
Why this play: Higher potential gain but more time decay risk; suitable if expecting a sharp breakdown below $360.
Debit: $20.03-$24.48
Max loss: $24.48
BE: $325.52
Mgmt: Monitor theta decay; exit if stock stays above $370 or rises above invalidation $392.5; consider rolling if time decay hurts.
Aggressive traders anticipating an acceleration of bearish momentum.

Watchlist Triggers

Entry Triggers
IFIF AVGO breaks below $360 support with volume → THEN enter bear put spread: buy 2026-09-18 $350/$320 put spread within $9.02-$11.03
IFIF AVGO breaks below $360 with strong downside momentum → THEN buy 2026-09-18 $350 put within $20.03-$24.48
Exit Triggers
EXITIF AVGO closes above $392.5 → THEN exit all bearish positions

Tactical Summary

Bearish near-term bias driven by negative dealer gamma and high IV. Key supports at $360 and $347; resistance at $392.5. Favor bear put spread (s1) for defined risk or long put (s2) for leverage. Exit if invalidation level breached.
How to Use These Reports
This directional reflects the market close on June 23, 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.