Puts Purchased on Marvell Technology Group (MRVL)
October 25, 2010 1:55 PM
Shares of Marvell Technology Group Ltd. (NASDAQ: MRVL) are lower on the session by 0.48%, currently trading at $17.61. The stock has been moving largely lower over the past six months, but recently bounced off of $15.00 and has now rallied above the 200-day moving average. First resistance is $19.00.
Options traders are buying puts on MRVL today. The November $17.00 and $16.00 put strikes, as well as the January 2011 $17.50, $16.00, and $15.00 puts are highly active.
Overall put volume is now running at 2.79x the daily average, 75% on the offer.
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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