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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 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Sell short-dated premium (e.g., iron-condor or put-credit spreads) to harvest elevated IV
Invalidation: Sustained price move below $360 or sudden IV collapse to sub-30% on short-dates
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 17.0% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
Stock IV (avg ~60%) materially above VIX (17%), short-dated skew extreme
Favorable?
Yes

Term structure: Steep, dislocated short-term term structure (0–7d) with call/put IV spikes; medium-dated IV elevated but normalizing

⚠️Short-dated IV dislocation creates elevated premium but fast reprice risk
📌Gamma/pinning concentrated near max-pain levels $348–$372, supporting pin risk
📅Upcoming earnings within the short-dated window — elevated event risk and potential IV pop/crash

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+83.6M)

Gamma flip: ~$290.00 — Approx — based on put OI concentration of 13,147 (28.7% below spot)

OI concentrations: Major put OI concentrated 28.7% below spot; max-pain cluster $348/$372/$368

Verdict: High pin risk: concentrated short-dated OI plus dealer GEX (+$83.6M) — spot above MP increases pinning pressure toward those strikes

Premium Opportunities

#1
Put credit spread
Sell 2026-05-29 $365.00/$335.00 put spread
Sell 5/29 365/335 put spread to collect rich premium while capping downside; favorable IV skew and high premium-on-time decay.
Credit: $3.94-$4.81
Max loss: $25.19
BE: $360.19
Mgmt: Enter at or below listed bid range; tighten or buy back if price drops toward $360 or IV collapses; roll or cut if breach below invalidation level.
#2
Iron condor
Sell 2026-06-18 $350.00/$320.00 put wing and $490.00/$540.00 call wing
Sell 6/18 350/320 put and 490/540 call wings to collect wider premium with time for IV to normalize.
Credit: $8.84-$10.81
Max loss: $39.19
BE: 339.19 / 500.81
Mgmt: Deploy after earnings if IV falls; adjust wings or hedge if spot moves toward short strikes or IV remains elevated.

Risk Alerts

!Earnings/event within short-dated window can spike or crush IV — avoid unhedged premium sells around event
!Rapid move toward max-pain pins or breach of $360 invalidates thesis
!Short-dated IV reprices causing gap risk and gamma amplification

Read the Theta analysis for AVGO for 2026-04-17. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.