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AVGO

Broadcom Inc.Close $481.57EOD only
Max Pain
$420.00
Next expiry Jun 5, 2026
Expected Move
±$43.30
9.0% from close
Price Gap
-61.57
Distance to max pain
IV Rank
100
High premium
P/C OI
1.12
Slightly put-heavy
Consensus
8.5/10
Bullish tilt
Published snapshot: Jun 2, 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 2, 2026 close
AVGO Earnings Report
Analysis based on market close April 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from April 17, 2026. A newer earnings report is available for May 26, 2026.

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Earnings Verdict

Bullish tilt with pinning risk into earnings; market positioned for muted move vs expected

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 17.0% from MP; +1 VIX 17; override: flow+GEX alignment raises posterior above base
Most important: Strong put concentration below spot (gamma flip ~290) creating pinning risk
📌Put OI concentration 28.7% below spot implies strong pinning risk
🔥Unusual call prints in May/Jul show forward upside positioning

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$290.00 — Approx — based on put OI concentration of 13,147 (28.7% below spot)

Earnings Overview

Next earnings: 2026-06-03 (47 days)explicit

Expected moves:

  • 2026-04-20 (3d): ±$21.47 (5.3%)
  • 2026-04-22 (5d): ±$23.69 (5.8%)
  • 2026-04-24 (7d): ±$18.00 (4.4%)

IV Setup

Term structure: Front-week IV elevated into earnings then falls across expiries

Crush estimate: Moderate (IV likely -20% to -40% post-event for near-dated)

Skew: Put skew concentrated below spot; call demand in May/Jul indicates directional call interest

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Historically beats (4/4) with realized moves roughly in line or below expected

Directional bias: Bias slight bullish given beat history and current flow

Key Levels

1$290.00 gamma flip
2EM guardrails: 2d $385.07/$428.01; 1w $382.86/$430.23
3Max pain pins: $348 (2026-04-17); $372 (2026-04-20); $368 (2026-04-22)

Flow Highlights

Large near-dated put prints and concentrated put OI ~28.7% below spot

Creates pinning pressure and defined gamma flip around $290

Significant call flow in May/Jul strikes (345–550)

Forward call demand implies upside positioning beyond earnings

Strategies

Put calendar (front-put harvest)
Sell 2026-05-08 $375.00 put / buy 2026-05-29 $375.00 put
Debit: $4.61-$5.64
Max loss: $5.64
Max gain: Variable
BE: Path-dependent
Trigger: Trim if front IV falls >25% or spot breaches $368–$385; roll long put wider if downside accelerates.
Best tradeoff: harvest elevated front-week put IV while limiting downside risk vs heavy short-dated put concentration.
Outperforms: Sell near-dated $375 put, buy later $375 put to collect term-structure premium and let pinning work to seller's edge while keeping protection longer-dated.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Iron condor (defined-risk premium)
Sell 2026-05-15 $370.00/$340.00 put wing and $440.00/$450.00 call wing
Credit: $5.18-$6.34
Max loss: $23.66
Max gain: $6.34
BE: 363.66 / 446.34
Trigger: Widen or close wings if spot trends toward a wing or IV crush reduces premium >30%.
Caps loss around pin zone; collects both call and put premium while avoiding unlimited tail risk.
Outperforms: Sell balanced put/call wings outside $368–$385 to monetize rich short-dated IV with defined max loss.
Underperforms: Move outside short strikes invalidates range thesis.
Call diagonal (upside retention)
Sell 2026-05-08 $440.00 call / buy 2026-05-29 $420.00 call
Debit: $11.75-$14.36
Max loss: $14.36
Max gain: Variable
BE: Path-dependent
Trigger: Buy back short leg on strong rallies or roll long call forward if IV term premium narrows.
Keeps upside convexity while selling elevated short calls; fits slight bullish bias.
Outperforms: Short nearer call, buy later call to finance carry and retain longer-dated upside exposure.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short strangle
Sell 2026-05-01 $370.00 put + sell $430.00 call
Credit: $7.16-$8.75
Max loss: Unlimited
Max gain: $8.75
BE: 361.25 / 438.75
Front-dated IV rich and put-heavy pinning risk; collect premium while delta-balanced.
Outperforms: Sell near-term strangle to harvest elevated front-week IV before earnings (pre-earnings premium capture).
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Pinning into max-pain ranges amid heavy short-dated puts
!IV crush can still produce rapid repricing even if directional flow favors bulls
!Spot ~17% above mid-package increases tail risk on downside surprise

What to Watch

?Price action around $368–385 (pinning & guardrail zone)
?Changes in near-dated put IV and vol-oi ratios pre-report
?Unusual block prints or large call lifts in May/Jul expiries
How to Use These Reports
This earnings reflects the market close on April 17, 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.