AVGO has historically underperformed during the month of April
Broadcom Inc (NASDAQ:AVGO) just showed up on Schaeffer's Senior Quantitative Analyst Rocky White's list of 25 S&P 500 stocks with the worst returns in April. Per White's data, AVGO has ended the month lower seven times over the past 10 years, averaging a drop of 2.1%. Last seen down 1.3% to trade at $621.04, a similar move from Broadcom stock's current perch would put the equity near the $608 area.
Though the stock sports a 11% year-to-date lead and is holding onto its year-over-year breakeven level, it's on track to snap a three-week winning streak. The shares are also at risk of breaking below a short-term consolidation around the $620 mark.
For those still looking to play Broadcom stock's next move, options look like the way to go. The equity's Schaeffer's Volatility Index (SVI) of 24% stands higher than only 4% of readings from the past 12 months, implying option players have rarely priced in lower volatility expectations.