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AVGO

Broadcom Inc.Close $422.65EOD only
Max Pain
$375.00
Next expiry Apr 24, 2026
Expected Move
±$12.52
3.0% from close
Price Gap
-47.65
Distance to max pain
IV Rank
41
Middle-high premium
P/C OI
1.18
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Apr 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
Apr 22, 2026 close
AVGO Earnings Report
Analysis based on market close April 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High-confidence pinning setup into AVGO earnings: concentrated put OI below spot, strong flow aligned with call walls around 450–500, and elevated IVs concentrate into front-week expiries.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.5% from MP; +0.5 VIX 19
Most important: Put OI cluster ~12,889 (28.6% below spot) + call OI wall $450–$500 driving pinning and limited expected range.
📌Put OI concentration 28.6% below spot suggests strong pinning pressure.
⚠️Front-week IV elevated; expect 10–20%pt crush if print in line.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$300.00 — Approx — based on put OI concentration of 12,889 (28.6% below spot)

Earnings Overview

Next earnings: 2026-06-03 (41 days)explicit

Expected moves:

  • 2026-04-24 (1d): ±$8.85 (2.1%)
  • 2026-04-27 (4d): ±$12.95 (3.1%)
  • 2026-04-29 (6d): ±$9.65 (2.3%)

IV Setup

Term structure: Front-week IV elevated (~35–40%) with longer-dated skew higher (May IVs 46–79%); rich near-dated skew into 4/24–4/27 expiries.

Crush estimate: Expected meaningful IV crush post-print: front-week IV down materially (10–20% pts) if print in line.

Skew: Put-heavy concentration just below spot and call walls above produce two-sided skew with calls expensive at higher strikes.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Historically beats 4/4; realized moves around expected or slightly undersized vs model.

Directional bias: Neutral-to-slightly-bullish given consistent beats and call OI wall; pinning risk higher than outright directional breakout.

Key Levels

1$300.00 gamma flip
2EM guardrails: 2d $411.09/$428.79; 1w $410.29/$429.59
3Max pain pins: $380 (2026-04-24); $400 (2026-04-27); $398 (2026-04-29)

Flow Highlights

Large front-week put prints at $417.5/$420 with very high vol/oi.

Dealer hedging likely created downward gamma near 410–420, supporting pinning.

Significant call OI wall $450–$500 and heavy call prints 427.5/445/450 expiries.

Upside capped intraday; flow aligned to keep prints below major call wall.

Strategies

Back-month iron condor (Jun18)
Sell 2026-06-18 $390.00/$350.00 put wing and $480.00/$530.00 call wing
Credit: $17.14-$20.95
Max loss: $29.05
Max gain: $20.95
BE: 369.05 / 500.95
Trigger: Enter mid-range; tighten or hedge if spot closes inside put cluster 410–420 or breaks call wall; close into larger-than-expected print or IV drop
Collects rich term premium while avoiding front-week IV crush and leverages pinning into 450–500 call wall
Outperforms: Sell 6/18 390/350 put wing and 480/530 call wing to monetize elevated longer-dated IV and defined-risk structure
Underperforms: Move outside short strikes invalidates range thesis.
Jun short strangle (naked)
Sell 2026-06-18 $390.00 put + sell $480.00 call
Credit: $29.93-$36.58
Max loss: Unlimited
Max gain: $36.58
BE: 353.42 / 516.58
Trigger: Use strict size limits, buy hedges if spot moves toward wings, and tighten/close on IV spike or gamma-fueled break
Higher premium but unlimited upside risk vs potential pinning — compensates for limited expected range
Outperforms: Sell 6/18 390 put and 480 call to capture term premium while avoiding front-week expiries
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Front-week IV crush if surprise drives larger realized move
!Pinning can fail creating rapid gamma-driven moves vs MP
!Spot ~10.5% above MP increases slippage risk for directional exposure

What to Watch

?Front-week IV moves pre/post print (4/24–4/27)
?Price action vs put cluster 410–420 and call wall 450–500
?Unusual print follow-through and rapid GEX shifts
How to Use These Reports
This earnings reflects the market close on April 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.