thetaOwl

AVGO

Broadcom Inc.Close $422.65EOD only
Max Pain
$375.00
Next expiry Apr 24, 2026
Expected Move
±$12.52
3.0% from close
Price Gap
-47.65
Distance to max pain
IV Rank
41
Middle-high premium
P/C OI
1.18
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: Apr 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
Apr 22, 2026 close
AVGO Flow Report
Analysis based on market close April 23, 2026

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

Flow Verdict

BiasNeutral-to-Bearish
Confirmation: Concentrated short-dated put prints at 410–420 with high vol/oi and strong positive GEX (pinning) support downside interest.
Invalidation: Sustained price strength with falling put activity and dominant call buying (break and hold above 445–450) would negate bearish tilt.
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 10.5% from MP; +0.5 VIX 19

Watch next session: Short-dated 410–420 put flow and changes in vol/oi; Activity at 427.5 and 445 calls; GEX/net premium movement and spot vs. gamma flip

Flow Summary

Net premium: +$120.8M bullish

P/C volume ratio: 0.82

P/C OI ratio: 1.16

High-vol environment with pinning gamma: heavy immediate-term put buying concentrates downside risk below spot while positive GEX offsets sharp moves, producing mixed/neutral-to-bearish flow.

Notable Prints

#1
AVGO 2026-04-24 $417.50 Put
Vol: 5,288
OI: 213
Vol/OI: 24.8x
IV: 37.4%
Notional: ~$1.7M
Intent: buy

Read-through:

#2
AVGO 2026-04-24 $420.00 Put
Vol: 6,216
OI: 307
Vol/OI: 20.2x
IV: 36.5%
Notional: ~$2.7M
Intent: buy

Read-through:

#3
AVGO 2026-04-27 $430.00 Call
Vol: 1,981
OI: 116
Vol/OI: 17.1x
IV: 34.7%
Notional: ~$569K
Intent: buy

Read-through:

#4
AVGO 2026-05-01 $295.00 Put
Vol: 2,093
OI: 169
Vol/OI: 12.4x
IV: 79.3%
Notional: ~$10K
Intent: buy

Read-through:

#5
AVGO 2026-04-24 $427.50 Call
Vol: 5,240
OI: 433
Vol/OI: 12.1x
IV: 35.3%
Notional: ~$828K
Intent: buy

Read-through:

Institutional Positioning

Call additions: Concentrated short-dated calls 427.5–450 expiries (notable IV); directional call buying into weeklies.

Put additions: Heavy same-day puts 410–420 cluster and larger short-dated puts vs spot; longer-dated deep OTM put print small and likely peripheral hedging.

GEX/DEX consistency: GEX (+$80M) and DEX inflows are suggestive of call-heavy short gamma but can be noisy; size/timing need corroboration before a strong inference.

OI clusters: Largest OI cluster ~410–430 (put-heavy ~412.5–420; call OI 427.5–445) near spot.

Hedging evidence: Short-dated put flow and elevated put OI indicate protective hedging/collar activity; elevated IV on short strikes.

Max pain context: Max pain sits below spot; short-dated flow raises probability of transient pinning toward 410–430 but this is probabilistic and may be ephemeral intraday.

Signal vs Noise

~Signal: concentrated same-day 410–427.5 put/call volume raises probability of near-term pin attraction but not certainty.
~Signal: GEX + DEX moves support a call-heavy short-gamma environment but can be noisy without corroborating size/timing.
~Noise: single low-premium far-dated 295 put is tail hedging, not directional.

Key Conclusions

📌Short-dated flow increases probability of transient pinning around 410–430; treat as probabilistic and sensitive to intraday flows.
⚖️GEX/DEX tilt toward calls implies dealer delta sell into rallies, but GEX/DEX signals require size/timing confirmation before firm positioning bets.
How to Use These Reports
This flow reflects the market close on April 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.