Broadcom closed at $375.81, rising 3.67%.

The options market saw a standout $2.07 million put sale and a $346,100 bearish call spread among the largest displayed trades. The put sale reflects confidence in longer-term support, while the call spread suggests limited upside. Aggregate large-trade flow leaned slightly bearish, with bullish premium-selling offset by bearish structures.

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Options Indicators

Broadcom’s implied volatility is 39.83%, and with an IV percentile of 8.76%, current option volatility sits on the low side relative to its own recent history, indicating that options are cheaply priced rather than expensive. The IV/HV ratio of 1.24 also suggests implied volatility is running modestly above realized volatility, so the market is embedding somewhat higher forward uncertainty, but overall pricing still remains in a relatively inexpensive zone.

The Call/Put volume ratio is 2.88.

Large Trades

A put sale worth $2.07 million stood out as the largest displayed trade, with 1,300 contracts sold at the 320.0 strike expiring on 2027-03-19. With AVGO referenced at 375.81, this put was out of the money at execution, making it a moderately bullish position that expresses confidence the stock will stay above 320.0 through expiration. Strategically, selling an out-of-the-money put typically reflects willingness to collect premium while taking on the obligation to buy shares at a lower effective entry point, so this trade suggests a constructive medium-term view rather than an aggressive upside chase.

A bearish call spread with a net credit of $346,100 was the other key displayed trade, built by selling the 375.0 call and buying the 380.0 call, both expiring on 2026-10-07. The short 375.0 call was in the money against the 375.81 reference price, while the long 380.0 call was out of the money, forming a classic bear call spread that benefits if AVGO fails to push meaningfully above the short strike. Because this position was opened for a net credit, the strategic intent points to premium collection combined with a mildly bearish to neutral outlook, effectively capping risk while positioning for the stock to remain below 375.0 or at least not rally strongly beyond 380.0 by expiration.

Overall, the large-trade picture leans slightly bearish. The biggest single displayed trade was a bullish cash-secured-style put sale, but that constructive signal was offset by the presence of bearish structures and put buying in the broader flow, leaving aggregate sentiment almost balanced but still tilted to the downside. In practical terms, the order flow suggests institutional participants are not positioning for a major upside breakout here; instead, they appear to expect AVGO to stay contained or soften, with selective premium-selling on lower downside strikes showing some confidence in longer-term support.

Strategy Reference

For a low assignment probability, a premium seller could look at the 320.0 put expiring 2027-03-19, which is far out of the money; alternatively, a bear call spread like selling 380.0 and buying 390.0 calls can cap margin while expressing a contained-upside view.