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AVGO

Broadcom Inc.Close $402.17EOD only
Max Pain
$385.00
Next expiry Apr 22, 2026
Expected Move
±$8.82
2.2% from close
Price Gap
-17.17
Distance to max pain
IV Rank
24
Low premium
P/C OI
1.19
Slightly put-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Apr 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
Apr 21, 2026 close
AVGO Earnings Report
Analysis based on market close April 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Bullish pinning environment into AVGO earnings with concentrated call OI and GEX supporting upside pin near $420–$450; guidance/quarterly commentary remains key risk that could gap price either way.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.4% from MP; +0.5 VIX 19; override: base 5; +2 GEX/flow aligned; +1 GEX positive; -1 spot distance from prior close; +0.5 VIX
Most important: Call OI wall at $450 and heavy short-dated call flow ($420–$425) drive pinning risk; guidance surprises can override flow effects
📌Heavy short-dated call flow ($420–425) creating pinning bias
⚠️Front-week put IV elevated — expect sharp IV crush and guidance surprise risk

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
Above
Gamma flip: ~$300.00 — Approx — based on put OI concentration of 12,985 (29.0% below spot)

Earnings Overview

Next earnings: 2026-06-03 (42 days)explicit

Expected moves:

  • 2026-04-24 (2d): ±$12.53 (3.0%)
  • 2026-04-27 (5d): ±$16.45 (3.9%)
  • 2026-04-29 (7d): ±$10.75 (2.5%)

IV Setup

Term structure: Front-week IV elevated for near-dated puts/calls (~30–45%) with steep front-end skew vs longer tenors.

Crush estimate: Post-earnings IV crush likely material on eventable expiries (~30–50% absolute drop on front-week strikes).

Skew: Put IV higher around $400–$410 while calls show elevated demand $420–$450, producing asymmetric skew

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Small sample: recent beats produced realized moves near or below expected implied moves.

Directional bias: Historical beat streak plus current bullish flow bias favors upside pinning, but guidance surprises have produced outsized gaps historically

Key Levels

1$300.00 gamma flip
2EM guardrails: 2d $410.12/$435.17; 1w $406.20/$439.10
3Max pain pins: $390 (2026-04-22); $375 (2026-04-24); $400 (2026-04-27)

Flow Highlights

Large short-dated call prints at $420–425 and concentrated $420 call OI (~2k+).

Delta and GEX concentrated to create pinning pressure near $420–$450.

Notable put OI cluster ~29% below spot (~12.9k) with elevated front-week put IV.

Protective puts provide a floor but skew and put demand signal asymmetric downside tail risk if guidance disappoints.

Strategies

Call diagonal (sell May short / buy Jun)
Sell 2026-05-29 $475.00 call / buy 2026-06-18 $470.00 call
Debit: $8.71-$10.64
Max loss: $10.64
Max gain: Variable
BE: Path-dependent
Trigger: Close or roll short leg into Jun if stock pins near $420–$450 or if IV collapses post-release.
Harvest rich front-week premium while keeping upside exposure and cutting post-crush gamma risk.
Outperforms: Sell May 29 $475 call, buy Jun 18 $470 call to collect premium, retain long call if upside post-earnings.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Front-week short strangle
Sell 2026-05-29 $390.00 put + sell $475.00 call
Credit: $16.45-$20.10
Max loss: Unlimited
Max gain: $20.10
BE: 369.90 / 495.10
Trigger: Tighten/hedge if flow lifts beyond call walls or underlying gaps; buy protection into release.
Max premium and decay ahead of expected pinning to 420–450 but high squeeze/crush risk.
Outperforms: Sell May 29 $390 put + $475 call to monetize elevated short-dated IV.
Underperforms: Break outside short strikes invalidates short-vol thesis.
June short strangle
Sell 2026-06-18 $390.00 put + sell $470.00 call
Credit: $32.20-$39.35
Max loss: Unlimited
Max gain: $39.35
BE: 350.65 / 509.35
Trigger: Manage by rolling or buying wings if guidance gaps exceed strike clusters; monitor term-structure IV.
Captures richer mid-term vol with less front-week crush but larger calendar exposure.
Outperforms: Sell Jun 18 $390 put + $470 call to collect wider premium with slower time decay.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Pinning risk to strike clusters may compress moves pre-release
!Significant IV crush can hurt long premium positions
!Spot ~8.4% above prior close increases downside reversion risk
!Guidance/forward-sales or margin/macro surprises can produce gap moves that overwhelm flow positioning

What to Watch

?Intraday flow into $420–$450 calls pre-event
?IV changes in front-week $400–$410 puts and front-week term structure
?Earnings release language on guidance, rev/GM/guide versus analyst expectations
?Price reaction around $420 and $450 call wall levels
How to Use These Reports
This earnings reflects the market close on April 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.