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AVGO

Broadcom Inc.Close $399.63EOD only
Max Pain
$375.00
Next expiry Apr 22, 2026
Expected Move
±$10.65
2.7% from close
Price Gap
-24.63
Distance to max pain
IV Rank
20
Low premium
P/C OI
1.17
Slightly put-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Apr 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
Apr 20, 2026 close
AVGO Flow Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Flow Verdict

BiasMixed
Confirmation: Large near‑term call and put prints clustered around 402–420 and 370–395 with positive GEX (+$56.3M) supporting pinning above MP; VIX ~19.5 high volatility reinforces option-driven deltas.
Invalidation: Sustained spot drop through gamma flip (~300) toward concentrated put strikes (~25% below) or heavy follow‑through selling that overwhelms positive GEX.
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 4.5% from MP; +0.5 VIX 20

Watch next session: Monitor spot vs MP moves around 402–420; Track intraday delta/GEX shifts and new large prints; Watch VIX and put/call flow for net directional shifts

Flow Summary

Net premium: +$80.9M bullish

P/C volume ratio: 0.84

P/C OI ratio: 1.19

Options flow is balanced with heavy near‑term activity both sides; net positive GEX suggests short‑term pinning but downside risk if spot breaches concentrated put zone.

Notable Prints

#1
AVGO 2026-04-22 $395.00 Put
Vol: 2,891
OI: 224
Vol/OI: 12.9x
IV: 42.7%
Notional: ~$535K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#2
AVGO 2026-04-27 $420.00 Call
Vol: 4,774
OI: 411
Vol/OI: 11.6x
IV: 39.3%
Notional: ~$1.2M
Intent: Aggressive upside/speculative call buy
Dual read: Covered call sell by institution vs directional long

Read-through: Large forward-dated upside demand lifting call GEX near 420

#3
AVGO 2026-04-22 $402.50 Call
Vol: 3,134
OI: 280
Vol/OI: 11.2x
IV: 38.4%
Notional: ~$1.3M
Intent: Short-dated upside squeeze/spec buy
Dual read: Buy to open for squeeze vs spread leg into 405/415 structure

Read-through: Concentrated same-day call flow supporting pinning around 400-410

#4
AVGO 2026-04-22 $370.00 Put
Vol: 5,900
OI: 712
Vol/OI: 8.3x
IV: 52.0%
Notional: ~$41K
Intent: Directional bearish or large hedged put buy
Dual read: Protective collar vs outright short exposure

Read-through: Heavy short-dated downside protection; raises near-term skew and pin risk

#5
AVGO 2026-04-22 $415.00 Call
Vol: 2,701
OI: 326
Vol/OI: 8.3x
IV: 38.4%
Notional: ~$165K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy near-term calls 402.5–420 strikes into 4/22–4/27 expiries; concentrated OI ~405–415.

Put additions: Significant short-dated puts 370–395 strikes (4/22) and elevated longer-dated puts ~347.5–420 (5/1–5/15).

GEX/DEX consistency: GEX +56M and DEX +48M align with call-heavy skew, but net put OI and higher IV temper certainty.

OI clusters: Largest OI cluster ~12.9k puts ~25% below spot (gamma flip ~300); call OI hubs 405–420.

Hedging evidence: Short-dated put volumes and elevated IV imply protective buying/collars; some selling into calls.

Max pain context: Spot sits above max pain and flows create a bias toward 405–415 into expiry, but longer-dated puts, elevated IV and opposing flows could blunt or reverse pinning—treat as a probability, not certainty.

Signal vs Noise

~Signal: Large 4/22 short-dated put and call prints — meaningful near-term gamma/hedge flow.
~Signal: GEX/DEX balance supports a bias toward 405–415 but is not definitive.
~Noise: Isolated low‑OI lifts OTM and in longer expiries likely noise; avoid treating them as directional flow.

Key Conclusions

📌Near-term bias toward 405–415 from concentrated calls and positive GEX; protective puts and IV limit confidence.
🔁Expect elevated hedge-driven intraday moves; ignore isolated low‑OI OTM/long-dated lifts as likely noise.
How to Use These Reports
This flow reflects the market close on April 21, 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.