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Broadcom $138 Calls 0DTE Hit 20K Trade Volume

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Kevin Travers joined discussion · Sep 6 12:39
Broadcom $138 Calls 0DTE Hit 20K Trade Volume
Broadcom fell Friday after the firm beat earnings estimates Thursday night, but failed to live up to high expectations of its future growth. $Broadcom (AVGO.US)$ fell 9% Friday, sending options contracts on the underlying flying to the top sixth position in the entire market ranked by High Stock Options Volume, according to moomoo.
Options contracts nearest to the falling stock price saw heavy volume. One contract stood out Friday with 19k trading volume: the $138 call expiring the same day, a "Zero Days to Expiration" contract that gives holders the right to buy Broadcom at $138, for the current price of $1/share for 100 shares. The price of  the contract itself fell 93% Friday.
Broadcom $138 Calls 0DTE Hit 20K Trade Volume
$Broadcom (AVGO.US)$ results Thursday showed adjusted earnings of $1.24 per share, on revenue of $13B for the quarter, above estimates. Revenue grew 47% year over year for the quarter, but the stock fell after hours Thursday after the firm's forward revenue guidance of $14B came in lower than estimates of $14.3B for the coming quarter.
Traders swapped 585k contracts on AVGO Friday in total according to momoo data. The Call to Put ratio was 51:49.
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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