AVGO GEX - Negative GEX Below HVLBroadcom Inc.NASDAQ:AVGOTanukiTradeAVGO has broken down from a multi-week sideways range on the daily chart and is now trading below HVL at 407.5, inside a negative GEX regime. If the decline does not slow, the next structural target is 380 – P1. Overhead, 440 – C1 remains the highest call wall, well above this breakdown. Price has already lost the 400 Ab1 cluster. 🔶 Regime Context 🔶 Below HVL, AVGO sits in a more reactive GEX regime. A reclaim of 407.5 would be the first sign of repair — until then, the structure stays downside-oriented. 🔶 Downside Structure 🔶 👉 380 – P1 (strongest put wall) Confluence at 380: P1 — strongest put wall / largest negative NETGEX nPV — strongest net put volume If 380 fails, price enters the negative extension zone, with downside gamma squeeze potential toward 350 (P2). 🔶 Options Sentiment 🔶 CALL$ 48.7% means call options at an equivalent distance from spot are priced 48.7% higher than the corresponding puts — this is call pricing skew. Even after the selloff, calls remain the more expensive side. On the Options Oscillator, the green histogram remains elevated at the right edge — call skew is still persistent. IVRank 35.2 IVx 51.7 | IVx 5dCh -1.7% CALL$ 48.7% — call pricing skew Implied move ±1.19% (±4.7) 🔶 Key Structure to Watch 🔶 407.5 (HVL) — regime pivot, now overhead 380 (P1) — next put wall / target 440 (C1) — highest call wall The key question: does 380 slow the decline — or does acceptance below P1 open the extension toward 350?