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AVGO

Broadcom Inc.Close $406.54EOD only
Max Pain
$372.50
Next expiry Apr 20, 2026
Expected Move
±$21.47
5.3% from close
Price Gap
-34.04
Distance to max pain
IV Rank
100
High premium
P/C OI
1.13
Slightly put-heavy
Consensus
6.5/10
Consensus signal
Published snapshot: Apr 17, 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
Apr 17, 2026 close
AVGO Earnings Report
Analysis based on market close April 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High-confidence pinning environment with concentrated puts ~27% below spot clustered near $385 and sizable call interest around $400–$420; earnings in 44d but short-dated flow is driving near-term pin risk.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.8% from MP; +0.5 VIX 19
Most important: Put concentration ~27% below spot concentrated ~ $385 (driving pinning); large call prints near $400–$420 add upside pin pressure.
📌Pin risk concentrated $385–$420 from large CP prints
⚖️Historical beat streak 4/4 supports mild upside bias vs mixed flow
🔥Short-dated IV pockets (>40%) imply uneven crush

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$290.00 — Approx — based on put OI concentration of 13,181 (27.4% below spot)

Earnings Overview

Next earnings: 2026-06-03 (44 days)explicit

Expected moves:

  • 2026-04-22 (2d): ±$10.65 (2.7%)
  • 2026-04-24 (4d): ±$15.10 (3.8%)
  • 2026-04-27 (7d): ±$18.10 (4.5%)

IV Setup

Term structure: Front-week IV elevated vs longer-dated; short-dated pockets show discrete spikes (>40%) on select strikes.

Crush estimate: Moderate — material crush for very short-dated expiries, smaller for longer tenors.

Skew: Skew shows downside bid (put demand) with discrete call interest at $400–$420; put-call OI >1 overall but occasional call-volume spikes.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Historical moves near expected; 2–7d expected moves ~2.7–4.5%.

Directional bias: Four-quarter beat streak supports mild upside bias, but near-term flow and pinning dominate directional odds.

Key Levels

1$290.00 gamma flip
2EM guardrails: 2d $388.98/$410.28; 1w $381.53/$417.73
3Max pain pins: $385 (2026-04-20); $375 (2026-04-22); $365 (2026-04-24)

Flow Highlights

Large short-dated call and put prints at $400–$420 and concentrated puts near $385.

Concentrated flow is creating pinning pressure in the $385–$420 band.

Net premium inflows with put-call OI >1 alongside call volume spikes.

Demand leans protective but mixed call activity produces two-sided pin risk.

Strategies

400/420 Bull Call Spread
Buy 2026-06-18 $400.00/$420.00 call spread
Debit: $7.94-$9.71
Max loss: $9.71
Max gain: $10.29
BE: $409.71
Trigger: Trim into strength near 410–420; roll up or close if spot <385 (invalidation).
Takes advantage of concentrated call interest and upside pin pressure with limited debit and lower vega exposure.
Outperforms: Cheap, defined-risk bullish play that benefits if calls pin toward 400–420 and limits crush impact vs long options.
Underperforms: Loss of support weakens upside continuation thesis.
380/420 Long Strangle
Buy 2026-06-18 $380.00 put + buy $420.00 call
Debit: $39.98-$48.87
Max loss: $48.87
Max gain: Unlimited
BE: 331.13 / 468.87
Trigger: Book partial gains on big moves; expect moderate crush—prefer expiries post-earnings.
Balanced two-way asymmetric payoff at lower cost than straddle to capture outsized move past pin walls.
Outperforms: Wide wings exploit potential swing beyond put wall (~385) or call lifts around 400–420.
Underperforms: Insufficient realized move reduces long-strangle edge.
400 Long Straddle
Buy 2026-06-18 $400.00 put + buy $400.00 call
Debit: $56.14-$68.61
Max loss: $68.61
Max gain: Unlimited
BE: 331.39 / 468.61
Trigger: Take profits quickly after move; suffers material crush for short-dated expiries.
Max symmetric exposure to an earnings surprise but highest cost and vega sensitivity.
Outperforms: Pure play on large implied move; strong if realized move > entry premium.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Bear put spread
Buy 2026-06-18 $400.00/$380.00 put spread
Debit: $8.21-$10.04
Max loss: $10.04
Max gain: $9.96
BE: $389.96
Next_earnings_date:2026-05-21; 400/380 put spread expires after event.
Outperforms: Cost-contained downside hedge/speculative bearish exposure across put wall.
Underperforms: Trade above resistance weakens downside thesis.

Risk Assessment

!Gap risk around earnings/news
!Pinning near concentrated put wall (~$385–$400)
!Illiquidity on some strikes despite high prints (wide spreads)
!IV repricing on headline surprises

What to Watch

?Short-dated IV pockets and front-week prints (>40%)
?Unusual prints at $397.5, $400, $420 and subsequent lifts/rolls
?Put concentration ~27% below spot (cluster ~ $385) and resulting gamma pinch
?Max-pain pins: $385/$375/$365 and call OI wall ~$450
How to Use These Reports
This earnings reflects the market close on April 20, 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.