BroadCom - BRCM (Where Might be a Good Entry)

Although BRCM is currently sitting on the MA200 support line, there have been instances where this MA200 line did not support well.
In addition, the price is currently in no man's land where Fibonacci immediate support and resistance is.
A noteworthy point is BRCM's Implied Volatility. It is currently at ~41%, and this is a low IV when compared to it's recent historical high of ~67% set in Jun08; ie it is more meaningful to consider some form of Long position for this counter

However, the "fanning" out of the price shows that it might be better to await for price to reach either side of the Green Lines.




Alternatively, these positions could be established...although not ideal as IV is pretty low.

Position #1 - Credit Spread
Sell Sep 26 Call and Long Sep 27.5 Call

Position #2 - CRedit Spread
Sell Sep 24 Put and Long Sep 22.5 Put

ie...an iron condor position.... which must mean that, one has to be pretty sure, this share is going no where from here but be ranged bound...preferably between $24 and $26...

the analysis of this iron condor position looks like this...