Options Active on Marvell (MRVL)
Shares of Marvell Technology Group (NASDAQ: MRVL) ended the session higher by 5.39% today, trading at $19.56. The stock made an early rally right our of the gate, based for a few hours, and then went off to the races once again as money flowed into the market.
While MRVL did announced this morning that it had partnered with Sonic Solutions (NASDAQ: SNIC) to provide System-on-a-Chip support for DivX TV, much of today's move was in sympathy to Nvidia (NASDAQ: NVDA), which made a dramatic surge higher today.
Options volume was extremely elevated on MRVL. While the stock normally trades between 1,000 and 3,000 calls and puts each, 23,000 calls and 14,000 puts traded on the name today.
The heaviest action on both the put and call sides was seen in the front month contract.
Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The company develops complex system-on-a-chip devices using its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing and embedded advanced RISC machine (ARM)-based microprocessor integrated circuits.
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