AVGO Flow Report

Analysis based on market close April 2, 2026

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.

Read the Flow analysis for AVGO for 2026-04-02. This AI-generated report covers regime classification, key price levels, strategy recommendations, and actionable trade ideas drawn from end-of-day options data including gamma exposure, delta exposure, and implied volatility.