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AVGO

Broadcom Inc.Close $414.14EOD only

Max Pain

$420.00

Next expiry May 26, 2026

Expected Move

±$11.88

2.9% from close

Price Gap

+5.86

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.15

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 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

May 22, 2026 close

AVGO Flow Report

Analysis based on market close April 9, 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 9, 2026. A newer flow report is available for May 22, 2026.

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Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned (Total GEX +$73.5M); +1 pinning gamma; -1 spot 10.9% above MP

Watch next session: Short-dated call OI and prints at $360–$370 (esp. 4/10 expiries) — continued buying would confirm dealer long-gamma support; Short-dated put flow at $345–$350 (4/10 and 4/17) — ramp in volume would signal transition to defensive positioning

Flow Summary

Net premium: +$134.1M bullish

P/C volume ratio: 0.75 — call-dominant in todays flow

P/C OI ratio: 1.11 — overall OI still shows modest put structural bias despite call-heavy flow

Today is a clear call-premium day: large notional concentrated in calls (notably $330/$340/$360/$370) producing a net premium of +$134.1M and a positive dealer GEX of +$73.5M. Short-dated activity (4/10, 4/13, 4/17) shows both aggressive call prints and defensive put selling/rolling near $345–$350, consistent with institutions buying upside exposure while dealers carry positive gamma and are pinning into the short-term EM band.

Notable Prints

AVGO 2026-04-10 $365 Call

Vol: 7,199

OI: 1,765

Vol/OI: 4.1x

IV: 43.5%

Notional: ~$309,157

Intent: Directional call exposure (short-dated upside exposure into 4/10 expiry)

Dual read: Large buyer of calls (bullish) OR part of a call-spread/synthetic structure (neutral); could also be conversion/roll from nearer strikes.

Read-through: Significant short-dated call buying that materially increases dealer positive gamma around $365; supports upside within the 1–2d EM band and is consistent with the bullish flow regime and positive GEX.

AVGO 2026-04-10 $380 Call

Vol: 4,686

OI: 546

Vol/OI: 8.6x

IV: 58.6%

Notional: ~$14,058

Intent: Aggressive speculative/lottery call buying or call-sweep for gamma into expiry

Dual read: Net long out-of-the-money calls (bullish) OR a sell/overwrite trade by a dealer executing matched flow (neutral); small notional per contract given low price ($0.03) but high relative trade activity.

Read-through: High relative activity at $380 signals risk-on speculative demand for upside tails; reinforces call-side skew but limited direct buying power given low premium per contract.

AVGO 2026-04-10 $350 Put

Vol: 4,144

OI: 999

Vol/OI: 4.1x

IV: 44.8%

Notional: ~$547,968

Intent: Protective hedging or short-dated downside cover (protective puts) from institutions near-the-money

Dual read: Bought protective puts (bearish/hedge) OR part of complex rolls (closing longer-dated puts and reopening short-dated strikes) — still reads as defensive demand.

Read-through: Notable short-dated put activity at $350 offsets some call aggression; shows institutions are buying near-the-money protection despite net call premium, consistent with selective hedging rather than a full directional change.

AVGO 2026-04-10 $347.50 Put

Vol: 1,603

OI: 296

Vol/OI: 5.4x

IV: 46.1%

Notional: ~$138,058

Intent: Short-dated protective puts / downside hedge around immediate support

Dual read: Bought as put protection (defensive) OR sold as part of put-spread structure (limited downside); concentration and proximity to spot favors protective read.

Read-through: Reinforces that some desks are trimming tail risk into the same short-dated expiries where calls are being purchased — a classic buy-call/buy-protect mix by institutions.

Institutional Positioning

Call additions: Material premium and flow into $330–$370 strikes (top premium list: $330, $340, $360, $370 show large call net premium). Short-dated strikes $360 and $365 saw heavy volume (4/10) indicating institutions adding near-term upside exposure.

Put additions: Significant short-dated protective activity clustered at $345–$350 (4/10 and 4/17) and larger structural put OI at $250/$300/$220 in longer expiries. Today's put buying reads as selective hedging rather than broad directional repositioning.

GEX/DEX consistency: Yes — positive Total GEX +$73.5M and DEX +47.3M shares align with bullish flow; near-term GEX concentration at $360/$355/$350 adds pinning bias within EM bounds.

OI clusters: Large OI clusters: $300 CALL OI=25,693 (long-dated structural), $390 CALL OI=15,282 (call wall/resistance) and put clusters at $250 (14,079) and $220 (13,915). Near-term call OI concentrations at $350 (3,867), $355 (3,172), $360 (3,172) create dealer gamma buying around $350–$360.

Hedging evidence: Clear evidence of protective short-dated puts at $345–$350 (4/10, 4/17) and longer-dated put floors ($220–$300). Presence of both short-dated calls and puts suggests institutions are buying upside while tactically hedging downside (collar-like behavior), but explicit collars are limited.

Max pain context: Max pain pins at $320 across imminent expiries while spot trades at $354.91; MP trend is down (320→310 over expirations) which makes MP a longer-term drag but dealers' short-term GEX concentrations at $350–$360 create nearer-term pinning above MP.

Signal vs Noise

~High volume at very OTM calls like $380 (last=$0.03) can be speculative lottery buying with low notional impact despite high vol/OI ratios — treat as skew signal, not large directional capital.

~Some short-dated put prints (4/10 at $320, $340) likely include expiration roll/close activity and short-dated hedging; activity clustered at expiries can reflect gamma/hedge rebalancing by market-makers.

~Large structural OI at $300 call and $250/$220 puts reflect longer-term positioning and are not necessarily new directional bets — today's flow is concentrated in nearer-dated expiries.

~Dealer inventory/gamma adjustments: positive GEX (+$73.5M) implies dealers are long-gamma; part of the call activity may be market-makers hedging rather than pure institutional directional trades.

Key Conclusions

🐂Net premium +$134.1M with Total GEX +$73.5M — dealers are long-gamma and flow is supportive of near-term upside to $360.

📌Near-term pinning pressure between $350–$360 (GEX concentrations at $350, $355, $360) creates a price magnet inside the 1–2 day EM [$348.72 - $361.10].

🛡️Concurrent short-dated put buying at $345–$350 signals tactical hedging — institutions buy upside but protect immediate downside.

⚖️OI structure shows longer-term put floor ($220–$300) and a call wall at $390; these create asymmetric structural barriers—upside meets resistance at $390, downside has deep put support under $300.

👀Watch continuation of short-dated call prints at $360–$370 and any spike in short-dated put volume at $345–$350; they will decide whether bullish gamma dominance persists or hedging shifts to defensive.

How to Use These Reports

This flow reflects the market close on April 9, 2026.

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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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If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.