Broadcom closed at $352.81, gaining 0.70%.

Options flow showed notable bullish conviction, led by a $2.99 million in-the-money call purchase at the $350.00 strike and an additional $425 thousand out-of-the-money call at $380.00. Both trades indicate institutional appetite for upside exposure, with the $350 call carrying higher delta sensitivity and the $380 call offering leveraged upside potential. The absence of meaningful bearish block activity reinforced the constructive tone in Broadcom options.

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Options Indicators

Broadcom currently has an implied volatility of 37.51%, and with an IV percentile of just 1.59%, its recent volatility pricing sits on the low side, indicating that options are cheaply priced versus their own historical range. At the same time, the IV/HV ratio of 1.24 shows implied volatility is running modestly above realized volatility, suggesting the options market is still assigning some premium over actual recent movement, but not to an extreme degree. The Call/Put volume ratio is 1.95.

Large Trades

A CALL buy worth $2.99 million was the standout large trade, with 3,325 contracts purchased at the $350.00 strike expiring on 2026-10-09. With AVGO referenced at $352.81, this call was in the money at the time, which makes it a more delta-sensitive bullish position and suggests the buyer was seeking meaningful upside participation rather than purely cheap convexity. The trade reflects a constructive directional view on the stock over the medium term, with the in-the-money strike indicating confidence in maintaining or extending gains from current levels.

A CALL buy worth $425 thousand was the other notable large trade, consisting of 1,250 contracts at the $380.00 strike expiring on 2026-10-16. This call was out of the money versus the $352.81 reference price, so it represents a more aggressive upside bet that requires further appreciation in AVGO to become intrinsically valuable. Strategically, this type of purchase points to bullish positioning aimed at capturing a continued rally, with the out-of-the-money structure offering leveraged upside exposure at a lower premium outlay.

Overall, the large-trade flow was clearly bullish. Both highlighted trades were outright call purchases, with no meaningful bearish large-block activity appearing alongside them, which signals institutional appetite for upside exposure rather than hedging or premium-selling. Taken together, the combination of a sizable in-the-money call buy and an additional out-of-the-money upside call suggests traders are positioned for AVGO to remain strong and potentially extend higher over the coming year.

Strategy Reference

For premium sellers wary of the bullish flow, the $300.00 put in the same 2026 expiration window could serve as a lower-assignment-probability strike given the current price level, while traders seeking a defined-risk bullish structure without large margin requirements may prefer a $350/$380 call debit spread expiring October 2026.