The semiconductor giant reports earnings Thursday after the closing bell, and the options market is implying a 5% move in either director for its stock, which has climbed about 18% since the beginning of this year.
In Broadcom shares on Wednesday, that straddle was made up of the weekly, at-the-money $297.50 call options and the $297.50 put options, purchased at around $7 each for a total cost of roughly $14, Nathan said. Broadcom was trading around $300 early Thursday. , which tracks the chipmakers and is up almost 40% for 2019, this kind of trade can seize on the uncertainty around where Broadcom will go next.
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