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AVGO

Broadcom Inc.Close $417.76EOD only

Max Pain

$415.00

Next expiry May 22, 2026

Expected Move

±$15.48

3.7% from close

Price Gap

-2.76

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.16

Slightly put-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

AVGO Flow Report

Analysis based on market close April 2, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 2, 2026. A newer flow report is available for May 20, 2026.

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Flow Verdict

Confidence:

6.5 / 10

base 5; +2 strong net premium & call flow; +1 GEX pinning supportive; -1.5 spot below MP & elevated P/C OI ratio

Watch next session: Reaction at $315-$320 call strikes; Any defensive put flow below $300; Follow-through on the $322.50/$327.50 call blocks

Flow Summary

Net premium: +$28.7M bullish

P/C volume ratio: 0.79 — call-dominant volume

P/C OI ratio: 1.16 — put-leaning positioning

Bullish flow persists with strong net positive premium, driven by call buying in the $322-$332 range. However, the underlying OI remains put-heavy, indicating a continued tug-of-war between new bullish bets and a large base of legacy hedges. The spot is pinned below near-term max pain, creating a gravitational pull higher.

Notable Prints

AVGO 4/6 $322.50 Call

Vol: 2,560

OI: 190

Vol/OI: 13.5x

IV: 24.8%

Notional: ~$8.1M (est. premium ~$3.2k/contract)

Intent: Fresh directional call buying

Dual read: Bought to open (bullish breakout) or sold to close (bearish). High vol/OI and elevated premium suggest new long calls.

Read-through: Targeting a move above $322.50 within the week, a key level above current spot and near-term max pain. This is a significant, concentrated bet on upside.

AVGO 4/10 $332.50 Call

Vol: 2,138

OI: 209

Vol/OI: 10.2x

IV: 37.0%

Notional: ~$6.8M (est. premium ~$3.2k/contract)

Intent: Directional call buying for a higher, slightly longer-dated target

Dual read: Bought to open (bullish) or sold to close (bearish). High vol/OI and meaningful premium point to new positioning.

Read-through: Extends the bullish target to $332.50 by mid-April, well above the current spot and near-term max pain clusters. This is a confident, out-of-the-money bet.

AVGO 4/6 $327.50 Call

Vol: 1,726

OI: 107

Vol/OI: 16.1x

IV: 25.1%

Notional: ~$5.6M (est. premium ~$3.2k/contract)

Intent: Fresh directional call buying

Dual read: Bought to open (bullish) or sold to close (bearish). Extremely high vol/OI confirms new activity.

Read-through: Part of a concentrated bullish block in the 4/6 expiry, targeting a swift move to the $327.50-$332.50 zone. These prints are likely from the same institutional player.

AVGO 4/2 $312.50 Put

Vol: 3,020

OI: 812

Vol/OI: 3.7x

IV: 7.8%

Notional: ~$940k (est. premium ~$310/contract)

Intent: Likely put selling for premium/income

Dual read: Sold to open (bullish/neutral) or bought to close (bullish). Extremely low IV (7.8%) strongly suggests selling.

Read-through: Not defensive hedging. This is likely selling puts just below spot ($314.55) to collect premium, expressing a view that AVGO holds above $312.50 through expiration. Consistent with the bullish flow regime.

AVGO 4/8 $330.00 Call

Vol: 1,739

OI: 239

Vol/OI: 7.3x

IV: 32.7%

Notional: ~$5.7M (est. premium ~$3.3k/contract)

Intent: Directional call buying

Dual read: Bought to open (bullish) or sold to close (bearish).

Read-through: Another layer of bullish positioning targeting $330, complementing the 4/6 and 4/10 calls. Builds a wall of bullish interest in the $322-$332 corridor over the next two weeks.

Institutional Positioning

Call additions: $322.50, $327.50, $330, $332.50 calls for 4/6-4/10 expiries. Significant premium also at $310 and $320 calls.

Put additions: Minimal new protective put buying near spot. The $305 Put (5/1) and $290 Put (4/6) are small in notional value.

GEX/DEX consistency: Yes — Positive GEX (+$101.9M) strongly aligns with the bullish flow and pinning regime, supporting a mean-reverting move higher toward call-heavy strikes.

OI clusters: Major Call OI: $300 (27.9K), $390 (15.3K), $360 (11.7K). Major Put OI: $250 (14.0K), $220 (13.9K), $265 (13.5K), $300 (13.4K), $260 (11.6K).

Hedging evidence: Massive legacy OI in deep OTM puts ($220-$265) remains the dominant hedging structure. New flow shows almost no defensive put buying, consistent with a bullish/risk-on stance.

Max pain context: Spot ($314.55) is below the nearest max pain ($320 for 3/23, $317.50 for 3/25). The bullish call flow is explicitly targeting levels above these pain points ($322-$332), suggesting intent to drive price higher against the pin.

Signal vs Noise

~The massive negative net premium at $380 (-$8.3M) is from a single, deep OTM put position (likely a legacy hedge or structured trade) and is not new directional flow.

~High premium flow at $150 Call (+$6.9M) and $420/$430 Puts (-$3.6M/-$3.3M) are from deep OTM, long-dated positions and represent portfolio-level adjustments, not near-term directional sentiment.

~The $305 Put for 4/2 expiry has high volume but very low IV; this is likely closing/rolling of existing positions near expiration, not new bearish bets.

Key Conclusions

🐂Institutional call buying is concentrated and confident, targeting a swift move to $322-$332 over the next 1-2 weeks.

⚖️The battle is clear: new bullish flow vs. massive legacy put hedges. Positive GEX and spot below max pain favor the bulls in the near term.

🎯Watch $315-$320. A break and hold above this zone confirms the flow thesis and triggers a grind toward the $327-$332 call targets.

How to Use These Reports

This flow reflects the market close on April 2, 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.