thetaOwl
HomeOptionsAVGOReports

AVGO

Broadcom Inc.Close $392.13EOD only
Max Pain
$390.00
Next expiry Jun 24, 2026
Expected Move
±$12.38
3.2% from close
Price Gap
-2.13
Distance to max pain
IV Rank
10
Low premium
P/C OI
1.08
Balanced positioning
Consensus
7.5/10
Bullish tilt
Published snapshot: Jun 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
Jun 22, 2026 close
AVGO Earnings Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

AVGO earnings 72 days out; near-term options show high IV due to structural flow; historical beat rate 100% but current spot below MP; mixed flow suggests caution.

Confidence:
4 / 10
base 5; -1 GEX/flow contradict; -0.5 spot 3.1% from MP; +0.5 VIX 19
Most important: Near-term IV elevated but event far; watch for gamma flip at $330 and call OI walls.
🔔High unusual call volume near support 385, but put OI ratio >1 warns of hedging.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$330.00 — Approx — based on put OI concentration of 16,518 (13.2% below spot)

Earnings Overview

Next earnings: 2026-09-03 (72 days)explicit

Expected moves:

  • 2026-06-24 (1d): ±$9.03 (2.4%)
  • 2026-06-26 (3d): ±$16.53 (4.3%)
  • 2026-06-29 (6d): ±$19.25 (5.1%)

IV Setup

Term structure: Front-month 1d IV ~42%, 3d 4.3%, 6d 5.1%, upward sloping; back-month lower.

Crush estimate: Event far; no immediate crush; near-term theta decay.

Skew: Put-call OI ratio 1.1 slight put bias; call OI wall $420-$500, put floor $250-$360.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not enough data; historical beat rate 100% suggests positive surprise tendency.

Directional bias: Neutral; high beat rate but current mixed flow.

Key Levels

1$330.00 gamma flip
2EM guardrails: 2d $371.12/$389.17; 1w $360.90/$399.40
3Max pain pins: $392 (2026-06-24); $400 (2026-06-26); $380 (2026-06-29)

Flow Highlights

Unusual call buying 6/24 $385 and $382.5 calls (vol/OI >10)

Bullish bets near support; aggressive call accumulation.

Large put volume 7/2 $382.5 put (vol/OI 7.9)

Hedging into next week; bearish tilt post-weekly.

Strategies

Iron Condor
Sell 2026-07-02 $362.50/$345.00 put wing and $402.50/$425.00 call wing
Credit: $5.74-$7.02
Max loss: $15.48
Max gain: $7.02
BE: 355.48 / 409.52
Trigger: Exit at 50% max gain or if spot breaches short strikes.
High near-term IV and upward term structure favor premium selling; defined risk reduces tail risk.
Outperforms: Sells IV premium with wings limiting loss; profits if spot stays between $362.50 and $402.50.
Underperforms: Move outside short strikes invalidates range thesis.
Short Strangle
Sell 2026-07-02 $362.50 put + sell $402.50 call
Credit: $8.82-$10.78
Max loss: Unlimited
Max gain: $10.78
BE: 351.72 / 413.28
Trigger: Monitor gamma risk; adjust or close if spot approaches strikes.
Elevated IV and no catalyst for 72 days; high premium but unlimited risk.
Outperforms: Collects premium from high IV; profits if spot stays within $362.50-$402.50.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call Diagonal
Sell 2026-07-02 $397.50 call / buy 2026-07-31 $420.00 call
Debit: $4.09-$5.00
Max loss: $5.00
Max gain: Variable
BE: Path-dependent
Trigger: Roll out if spot falls below $360; take profit if near-term call decays.
Upward sloping term structure allows selling expensive near-term IV and buying cheaper back-month; neutral-to-bullish bias.
Outperforms: Sells a near-term call to fund a later-dated call, benefiting from IV decline and time decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long straddle
Buy 2026-09-18 $360.00 put + buy $360.00 call
Debit: $69.08-$84.43
Max loss: $84.43
Max gain: Unlimited
BE: 275.57 / 444.43
100% beat rate but neutral bias; straddle profits from large move
Outperforms: Buy straddle for earnings volatility
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Elevated near-term IV may decay quickly, exaggerating moves.
!Spot 3.1% below max pain $392; potential drift upward.
!Gamma flip at $330 if downside accelerates.

What to Watch

?Max pain $392 for 6/24 expiry.
?Put OI concentration at $330 support.
?Call OI wall $420-$500 resistance.
How to Use These Reports
This earnings reflects the market close on June 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.