Broadcom closed at USD 350.36, down 1.30%.

A four-leg calendar-style call spread collected a net credit of $1.56 million, while the call/put volume ratio stood at 1.85. The dominant trade sold 1,757 October 2026 $350.0 calls and 1,757 October 2026 $357.5 calls, while buying 1,757 September 2026 $365.0 calls and 1,757 September 2026 $375.0 calls.

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Options Indicators

Broadcom’s implied volatility is 37.93%, and with an IV percentile of just 1.99%, current option volatility sits at the low end of its recent range, indicating options are cheaply priced rather than rich. The IV/HV ratio of 1.11 suggests implied volatility is only modestly above realized volatility, so the market is not assigning a large premium to forward uncertainty at this point. Overall, Broadcom’s options appear relatively inexpensive from a volatility-pricing perspective.

The Call/Put volume ratio is 1.85.

Large Trades

A call spread structure collected a net credit of $1.56 million through a four-leg calendar-style combination, with 1,757 contracts sold on the October 2, 2026 $350.0 call and 1,757 contracts sold on the October 2, 2026 $357.5 call, while simultaneously buying 1,757 contracts of the September 25, 2026 $365.0 call and 1,757 contracts of the September 25, 2026 $375.0 call. Because this combination includes both sell calls and buy calls, it is best viewed as a spread strategy rather than a synthetic position, and the relevant size is the stated net credit of $1.56 million. With AVGO referenced at $350.36, the short $350.0 call sat slightly in the money, the short $357.5 call was out of the money, and both long calls were out of the money. Strategically, this looks like a premium-collection trade with a bearish-to-neutral lean, expressing the view that upside will remain capped while monetizing richer premium in the later-dated short calls against cheaper near-dated long-call protection.

Overall, the large-trade flow leans bearish on AVGO. The dominant institutional activity was a net-credit call spread that sold upside exposure and emphasized premium harvest rather than upside participation, which suggests traders were more comfortable fading further gains than positioning for a strong bullish breakout. Taken together with the aggregate bulk-order figures, the options flow points to cautious or mildly negative sentiment, with expectations for limited upside and a preference for income-generating bearish-to-neutral structures.

Strategy Reference

For a low assignment probability approach, sellers could focus on out-of-the-money calls near the $375.0 strike or higher, while traders preferring not to post too much margin may consider a bear call spread such as selling the $357.5 call and buying the $365.0 call in the same expiration.