Broadcom closed at 360.83 USD, down 0.97% from the previous session.

AVGO options flow was dominated by a $3.27 million deep-in-the-money put purchase, while the broader bulk-order picture leaned entirely to the put-buying side. With implied volatility at 38.85% and an IV percentile of just 1.99%, options are priced near the cheapest levels of their recent range, making the bearish block trade more notable as a direct directional bet rather than a volatility play.

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Options Indicators

AVGO’s implied volatility stands at 38.85%, and with an IV percentile of just 1.99%, current option volatility is sitting at the very low end of its recent range, indicating that options are cheaply priced rather than expensive. The IV/HV ratio of 1.02 suggests implied volatility is broadly in line with realized volatility, so option premiums appear fairly aligned with the stock’s actual movement profile while still remaining low in a historical context. The Call/Put volume ratio is 1.04.

Large Trades

A PUT buy worth $3.27 million stood out as the key large trade, with 1,436 contracts of the September 11, 2026 $385.00 put purchased. With AVGO referenced at $360.83, this put was already in the money at execution, which makes it a more aggressive bearish expression with higher intrinsic value and stronger downside sensitivity than an out-of-the-money hedge. The trade points to a view that downside risk remains meaningful into expiration, and it can also be interpreted as a sizable protective position against further weakness in the stock.

Overall, the large-trade flow was clearly bearish. The displayed block was a sizable in-the-money put purchase, and the broader bulk-order picture also leaned entirely to the put-buying side, reinforcing a defensive-to-negative stance rather than opportunistic upside positioning. Taken together, the figures suggest institutional traders were positioning for continued downside pressure in AVGO or actively paying up for protection against further declines.

Strategy Reference

For sellers seeking a defined-risk bullish-to-neutral stance, the September 2026 $310.00 strike put offers a lower assignment probability given its distance from spot and the depressed IV environment; alternatively, a put credit spread such as selling $310.00 and buying $290.00 can reduce margin requirements while still capturing premium.