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AVGO

Broadcom Inc.Close $398.47EOD only

Max Pain

$345.00

Next expiry Apr 17, 2026

Expected Move

±$6.71

1.7% from close

Price Gap

-53.47

Distance to max pain

IV Rank

100

High premium

P/C OI

1.12

Slightly put-heavy

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 16, 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 16, 2026 close

AVGO Theta Report

Analysis based on market close April 15, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.0% from MP; +0.5 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Near-term ATM IV 40.5% (2d) → 47.6% (16d) vs VIX 18.17 — IV is materially elevated relative to equity vols (avg IV 60.6%).

Favorable?

Yes

Term structure: Front-week IV is rich (40.5% at 2d) with elevated mid-term IV (46–50% across 16–64d). Term structure supports selling 3–8 week premium while keeping some calendar/diagonal optionality.

💰Avg IV 60.6% and ATM term IV ~47%–50% provide strong theta pickup vs VIX 18.17

📌GEX +$82.4M (pinning) increases chances of price stalling near nearby OI walls (~$390/$400)

⚠️Very large call flow at $300/$360/$400 shows structural positioning — watch one-sided call pressure into expiries

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+82.4M)

Gamma flip: ~$290.00 — Approx — based on put OI concentration of 13,162 (26.9% below spot)

OI concentrations: Strong GEX magnets at $390 (+$14.9M, -1.7% from spot) and $400 (+$13.7M, +0.8% from spot); additional pin at $410 (+$2.8M). Max pain near-dates: $367.50 (4/15), $340 (4/17), $370 (4/20).

Verdict: Favorable — positive GEX (+$82.4M) with concentrated call/put walls around $390/$400/$370 creates a pinning environment that supports defined-risk short premium (put spreads) while making wide short strangles riskier.

Premium Opportunities

Put credit spread

Sell 2026-05-15 $360.00/$330.00 put spread

Sell near-term-to-1mo put credit spreads targeting short puts around the 25–30 delta with a 10-point protective long put; uses pinning and dealer buying to bias outcomes in favor of spreads.

Credit: $3.74-$4.57

Max loss: $25.43

BE: $355.43

Mgmt: Take ~60–70% of max credit on profit; tighten or roll if price closes below $385.15; exit or roll if price breaches $367.50 support

Call credit spread

Sell 2026-04-24 $420.00/$440.00 call spread

Sell 1–4 week call credit spreads sized to the heavy call walls; cap risk with a long call 10–15 points wide to survive squeezes.

Credit: $2.00-$2.44

Max loss: $17.56

BE: $422.44

Mgmt: Manage if AVGO closes above $400 on high volume; consider buying back at 60%+ of max loss or rolling up/out

Risk Alerts

!Unusual large 4/17 put flow: AVGO 04/17 $390P vol spike (Vol=4,030) — short-dated tail interest could amplify moves around expiry.

!Pin/GEX concentration at $390/$400 — can hold price near strikes and produce one-sided bleed for the opposite wing of strangles; manage the pinned side early.

!Major support cluster $367.50/$366.47 — breach would remove dealer pinning support and accelerate downside toward gamma flip (~$290) or structural put floor.

!Elevated Avg IV 60.6% — favorable for sellers but also indicates higher realized move risk; IV spikes on market sell-offs will widen wing costs.

!Earnings not imminent (next 2026-06-03, 49d) — no naked short through earnings needed now, but monitor calendar trades that straddle the event window.

Read the Theta analysis for AVGO for 2026-04-15. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.