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AVGO

Broadcom Inc.Close $411.07EOD only
Max Pain
$420.00
Next expiry May 20, 2026
Expected Move
±$9.95
2.4% from close
Price Gap
+8.93
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
1.19
Slightly put-heavy
Consensus
7.5/10
Bullish tilt
Published snapshot: May 19, 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
May 19, 2026 close
AVGO Earnings Report
Analysis based on market close May 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 15, 2026. A newer earnings report is available for May 20, 2026.

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Earnings Verdict

Broadcom (AVGO) enters earnings with 100% beat rate, strong bullish flow, and positive GEX. High IV offers premium, but event risk exists on June 3.

Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 11.2% from MP; +0.5 VIX 18
Most important: High confidence in bullish bias due to sustained beat rate and net call buying. Monitor max pain $422 and call wall $450-$500.
📊100% beat rate (4/4): AVGO consistently surpasses estimates, supporting bullish bias.
⚠️High IV (~50%+) implies large expected move; risk of IV crush post-earnings.
📈Net premium $159M positive, calls dominate: flow strongly aligned with upside.

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 14,405 (29.4% below spot)

Earnings Overview

Next earnings: 2026-06-03 (19 days)explicit

Expected moves:

  • 2026-05-18 (3d): ±$10.07 (2.4%)
  • 2026-05-20 (5d): ±$17.50 (4.1%)
  • 2026-05-22 (7d): ±$23.10 (5.4%)

IV Setup

Term structure: Contango: expected moves increase from ±2.4% (3d) to ±5.4% (7d), indicating higher IV for longer tenors.

Crush estimate: Significant crush post-earnings; implied moves of 5-8% likely collapse to 2-3% after event.

Skew: Put/call OI ratio ~1.09 but net premium $159M bullish. Unusual deep OTM put buying ($240) suggests hedging, while call activity concentrated at $450-$500.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Historical data not available, but 100% beat rate (4/4) suggests potential upside bias vs implied moves.

Directional bias: Bullish: 100% beat rate and positive net flow indicate consistent upside surprises.

Key Levels

1$300.00 gamma flip
2EM guardrails: 2d $415.12/$435.27; 1w $407.69/$442.69
3Max pain pins: $382 (2026-05-15); $422 (2026-05-18); $422 (2026-05-20)

Flow Highlights

Unusual deep OTM put activity: 2,900 contracts of AVGO 2026-05-29 $240 Put (vol/oi 21.5).

Likely hedging or tail-risk protection, not directional bearish given low premium ($0.04).

Large near-ATM call buying: 2,099 contracts of AVGO 2026-05-26 $415 Call (vol/oi 13.5).

Bullish bet on continued upside ahead of earnings, aligning with positive GEX and flow.

Strategies

Bull Call Spread
Buy 2026-06-12 $450.00/$455.00 call spread
Debit: $1.76-$2.15
Max loss: $2.15
Max gain: $2.85
BE: $452.15
Trigger: Exit if price falls below $397.69.
100% beat rate and bullish flow favor upside; spread limits cost and risk.
Outperforms: Captures upside from earnings beat expectation with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.
Long Strangle
Buy 2026-06-05 $400.00 put + buy $450.00 call
Debit: $24.46-$29.89
Max loss: $29.89
Max gain: Unlimited
BE: 370.11 / 479.89
Trigger: Close before earnings or manage gamma risk.
Earnings catalyst with high IV; strangle captures volatility.
Outperforms: Non-directional bet on large post-earnings move.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Earnings event on June 3: high IV may lead to sharp volatility and potential crush post-release.
!Spot above nearest max pain ($382) but below $422 for next expiry; pinning risk may limit upside near term.
!Broader market weakness (SPY -1.2%, QQQ -1.5%) could pressure AVGO if sector continues to sell off.

What to Watch

?Price reaction at max pain levels $382 (May 15) and $422 (May 18/20).
?Call wall resistance around $450-$500; break above could accelerate.
?Unusual put flow at $240: if volume persists, may signal hedging ahead of earnings.
How to Use These Reports
This earnings reflects the market close on May 15, 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.

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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.