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AVGO

Broadcom Inc.Close $380.15EOD only
Max Pain
$392.50
Next expiry Jun 24, 2026
Expected Move
±$9.03
2.4% from close
Price Gap
+12.35
Distance to max pain
IV Rank
10
Low premium
P/C OI
1.10
Slightly put-heavy
Consensus
4.5/10
Bearish tilt
Published snapshot: Jun 23, 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 23, 2026 close
AVGO Directional Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Neutral-to-bearish bias amid high vol, negative dealer gamma, and bullish flow. Near-term expiry pin at $388 may limit moves, but short gamma risks acceleration.

Confidence:
5 / 10
Base 5; -1 GEX/flow contradict; +0.5 spot 1.4% from MP; +0.5 VIX 19.
Supports: Bullish options flow, spot near MP, high vol supports moves.
Conflicts: Negative dealer gamma, trending gamma regime, spot below key levels.
📉Negative GEX -$16.9M: dealer short gamma, trending risk.
🔄Gamma flip ~$330, 13.6% below spot.
📊Bullish flow: net premium positive, low put/call.
🎯Max pain $388 near expiry, pin risk.

Regime Classification

Vol Regime
High
High vol: IV elevated vs typical range, consistent with VIX 18.63.
Gamma Regime
Trending
Trending gamma: GEX -$16.9M, dealer short gamma near spot, potential acceleration.
Flow Regime
Bullish
Bullish flow: net premium positive, put/call ratio low.
Spot vs Max Pain
Below
Below MP: spot ~$383 vs MP $388 (1.4% below), pin risk at expiry.
Thesis duration: Event-specific — Expiry week dynamics with high vol and dealer positioning suggest event-specific moves.

Price Range Forecast

Next 2 days
$366.85$397.30
Expiry pin at $388, but negative gamma may push through.
Next 1 week
$364.40$399.75
Breakout conditions: above $399.75 or below $364.4.
Next 2 weeks
$350.27$413.87
Structural resistance at $413.87, support $350.27.

Key Levels

Max pain pins: $388 (2026-06-24); $398 (2026-06-26); $380 (2026-06-29)
EM guardrails: 2d $366.85/$397.30; 1w $364.40/$399.75
Support: $360.00 · $350.27
Resistance: $387.50 · $413.87 · $420.00
Gamma flip: ~$330.00 — Approx — based on put OI concentration of 16,584 (13.6% below spot)
Structural: Support $360-$350.27 (gamma flip $330). Resistance $387.5-$413.87 (max pain $388).

Dealer Positioning (GEX/DEX)

GEX: $-16.9M

DEX: +49.7M shares

Gamma flip: ~$330 (Approx — based on put OI concentration of 16,584 (13.6% below spot))

NTM gamma: Short gamma: GEX -$16.9M, dealer hedged for trending moves. Gamma flip at $330.

IV Analysis

IV vs VIX: Ticker IV likely rich vs VIX given high vol regime and negative gamma.

Term structure: Near-term elevated due to expiry; back-month likely normal.

Skew: Put skew elevated; selling puts near support ($350) may be attractive.

Flow Analysis

Net premium: Net call premium $41.4M, P/C vol ratio 0.69, bullish flow.

Directional prints: 16.4 call 390 OTM 2026-06-24 — Vol/OI 18.3, long-dated OTM call; likely bought for small premium, bullish bet on spike.

Unusual: 33.6 call 400 OTM 2026-06-24 — Vol/OI 16.4, deep OTM call; bought aggressively given low premium. 25.4 call 395 OTM 2026-06-24 — Vol/OI 16.1, OTM call; similar pattern, likely speculation.

Risks & Catalysts

!Negative gamma exacerbates selloffs.
!Bullish flow could force dealer hedging upside.
!Pin risk at expiry may cause reversal.

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bear put spreadModerate
Buy 2026-09-18 $400.00/$370.00 put spread
Why now: Bear put spread offers limited risk, benefits from downside move. Expiration after earnings to capture event.
Max loss defined by spread width; time decay works against long leg if no move.
Long putModerate-Weak
Buy 2026-09-18 $400.00 put
Why now: Long put provides unlimited upside on downside move with capped loss. High IV may overprice premium but directional bias favors holding through earnings.
High premium cost; time decay accelerates; requires significant move to profit.

Top Plays

#1
Bear Put Spread on AVGO
Buy 2026-09-18 $400.00/$370.00 put spread
Buys $400 put, sells $370 put, benefiting from downside move while capping risk.
Why this play: Limited risk bearish play ahead of earnings with high IV and negative gamma.
Debit: $14.56-$17.79
Max loss: $17.79
BE: $382.21
Mgmt: Hold through earnings; exit if underlying above invalidation level $387.5.
Traders seeking controlled risk event play.
#2
Long Put on AVGO
Buy 2026-09-18 $400.00 put
Buy $400 put to profit from a decline; high IV may inflate premium.
Why this play: Unlimited downside profit potential with defined risk, suits stronger bearish conviction.
Debit: $41.92-$51.23
Max loss: $51.23
BE: $348.77
Mgmt: Monitor delta; consider scaling out after earnings if profitable.
Aggressive traders expecting large drop.

Watchlist Triggers

Entry Triggers
IFIF AVGO breaks below $360 support → THEN enter bear put spread $400/$370 (Buy $400 put, sell $370 put)
IFIF AVGO rejects $387.5 resistance → THEN enter bear put spread $400/$370 (Buy $400 put, sell $370 put)
Exit Triggers
EXITIF AVGO closes above $387.5 → THEN exit all bearish positions (both bear put spread and long put)

Tactical Summary

Neutral-to-bearish bias ahead of 9/3/26 earnings. Key support $360-$350, resistance $387.5-$413.87. Negative dealer gamma may accelerate selloffs. Top play: bear put spread $400/$370. Invalidation above $387.5.
How to Use These Reports
This directional reflects the market close on June 24, 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.