AVGO options saw heavy activity with multiple large sweeps targeting the $340 strike puts expiring November 21, 2025. The contracts traded in sizable blocks ranging from ~500–590 contracts each. Prices ranged around $20–21 per contract, leading to premiums of $1.0M–$1.2M per sweep.
Altogether, total volume reached 3,180 contracts at the time of these trades. Compared with an open interest of just 1,104, this results in a V/OI ratio of over 288%. With AVGO’s stock trading near $344 at the time, these put options are classified as modestly out-the-money. The aggressive sweep and high premium outlay (well over $5M across trades) point to institutional-scale activity.
Volume and Open Interest Data
The AVGO options $340 puts expiring November 21, 2025 show a clear surge in trading activity. On September 9th, volume spiked to 3,629 contracts, far exceeding the open interest of 1,104, giving a V/OI ratio above 300%. This marks aggressive new positioning.
In the days prior, volume was already elevated with 3,341 contracts on 9/8 and 3,289 contracts on 9/5, suggesting sustained interest. The contract closed at $22.00 with implied volatility of 38.16%, slightly higher than earlier sessions. Overall, the high volume relative to open interest combined with the consistent activity highlights strong sentiment targeting AVGO options ahead of November expiration.
Trade Side Distribution
The trade side distribution for AVGO $340 puts expiring November 21, 2025 shows that the majority of transactions were executed above the bid/ask spread. Roughly 85% of the flow ($5.5M) came in above the ask, while only 15% ($995K) was executed at the bid.
Meanwhile, no volume was recorded at the mid, ask, or below levels. This skew toward above-ask activity highlights urgency from traders willing to pay a premium to secure their trades. Such trading behavior further reinforces the conviction behind the heavy put buying seen in this strike and expiration.
What’s Happening with AVGO
Broadcom Inc. (NASDAQ: AVGO) recently announced its third-quarter fiscal 2025 results. The company delivered record performance fueled by robust demand for artificial intelligence (AI) semiconductors and networking solutions. The company reported consolidated revenue of $16.0 billion—up 22% year-over-year—and a net income of $4.14 billion, swinging from a net loss in the same quarter last year. AI semiconductor revenue soared 63% to $5.2 billion, with projections of accelerating growth in Q4.
Notably, Broadcom secured a $10 billion custom chip order. Widely believed by analysts to be from OpenAI, the move sets the stage for major revenue gains as shipments begin in 2026. The company continues to benefit from strong partnership networks, including Alphabet, Meta Platforms, and NVIDIA, while expanding its infrastructure software division through successful VMware cloud initiatives. In addition to impressive financial metrics, Broadcom declared a quarterly dividend and provided optimistic guidance for the upcoming quarter, estimating Q4 revenue of $17.4 billion and marking its eleventh consecutive quarter of AI-led growth.
About AVGO
Broadcom Inc. is a global technology leader that designs, develops, and supplies a wide range of semiconductor and infrastructure software solutions. The company operates in two primary areas: semiconductors and enterprise software. On the semiconductor side, Broadcom produces chips that power data centers, networking equipment, broadband devices, and wireless communication technologies, including those used in smartphones, Wi-Fi, and Bluetooth devices.
It is also a key supplier of custom silicon solutions for major cloud service providers. In addition to hardware, Broadcom has built a strong presence in enterprise software through strategic acquisitions, offering products in cybersecurity, mainframe operations, and IT infrastructure management. With a growing focus on artificial intelligence (AI), Broadcom plays a critical role in enabling next-generation computing and connectivity across industries.
Analyst Ratings
| Firm | Rating/Grade | Last Update |
|---|---|---|
| CFRA | ★★★★☆ (Positive) | 09/07/2025 |
| Market Edge | Long | 05/13/2025 |
| Argus | Buy | 09/08/2025 |
| Morningstar | ★★★☆☆ (Neutral) | 09/05/2025 |
| LSEG | Outperform | 09/07/2025 |
| Schwab Equity Ratings | C (Neutral) | 09/08/2025 |
The analyst ratings for Broadcom (AVGO) reflect a generally bullish outlook, though with some variation in conviction across firms. CFRA most recently assigned a 4-star rating, indicating confidence in the stock. Market Edge upgraded its stance to Long, reinforcing a positive technical view.
Argus issued a Buy rating, further supporting the bullish case, while Morningstar was more cautious, assigning 3 stars, which signals a more neutral stance. LSEG was optimistic with an Outperform rating, while Schwab Equity Ratings landed in the middle with a C grade, suggesting a more measured approach. Overall, sentiment leans positive with multiple buy-oriented ratings, though not without a few cautious outlooks.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
