$AVGO daily pick: sell Nov 20 $300 cash-secured put

$AVGO: I'm selling the Nov 20 $300 put and getting paid to wait on Broadcom.

As of Friday's close ($328.75):
11% below the 200-day and 34% off the June high
Credit $5.15 for ~1.7% in 35 days (~18% annualized)
Breakeven $294.85 sits just above the $289.96 March low
About 17x next year's EPS estimate with revenue up 85% last quarter

I think the AI debt fears are hitting Broadcom harder than they should because it's the one getting paid for the buildout and it keeps beating estimates.

Would you take $515 to wait at $300 or just buy AVGO here at $328?

Not financial advice

---

Why a put and not shares? Chips just had an ugly week on AI debt worries and AVGO fell 4.5% on Friday alone. Daily RSI is about 35. I don't know where the bottom is so I'd rather get paid while it figures that out. Assigned at $300 is fine with me.

---

Don't have $30k sitting in cash? Defined-risk version: sell the $300 put and buy the $280 put for about $2.72 credit. Max risk $1,728 and breakeven $297.28. Smaller check but you lose the full $1,728 if it's under $280 at expiration.

---

What invalidates it: a weekly close under the $289.96 March low. Then the range is broken and I'd rethink size. Earnings are Dec 9 (last quarter beat $3.32 vs $3.22) so the Nov 20 put expires before the print.

---

What I'd watch: part of this week's fear came from Hock Tan's own comments on AI spending so customer capex headlines will move it. A close back above the 200-day near $368 tells me the selloff is done. Street PT is around $510 for what it's worth.

Sources: FMP: $AVGO quote, estimates and price history · Robinhood: $AVGO equity and Nov 20 2026 $300 put chain · CBS News: tech stocks tumble as AI debt fears rattle Wall Street (Oct 16) · MarketBeat: Broadcom falls 4.5% to $328.75 (Oct 16) · 24/7 Wall St: Hock Tan capital warning hangs over AI chips · SEC EDGAR: $AVGO filings

Not financial advice. For informational and educational purposes only.