Broadcom (NASDAQ:AVGO) shares are up 1.3% to trade at $368.88 today, after BMO initiated coverage on the chipmaker with an "outperform" rating and $455 price target. The analyst in coverage cited Broadcom as the leading AI supplier in XPU, networking markets.
AVGO snapped a four-day losing streak yesterday, with the $360 level stepping up once more as support, as its done all summer. The shares are 27% higher year-over-year and 6.2% higher in 2026.
Options traders have been firmly bullish, per the stock's 50-day call/put volume ratio of 2.14 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 80% of annual readings.
Broadcom tends to underperform options traders' volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 10 out of 100. This makes premium-selling an intriguing move going forward.
