High-rolling investors have positioned themselves bullish on Marvell Tech MRVL, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MRVL often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Marvell Tech. This is not a typical pattern.
The sentiment among these major traders is split, with 55% bullish and 44% bearish. Among all the options we identified, there was one put, amounting to $39,100, and 8 calls, totaling $336,195.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $78.0 for Marvell Tech during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Marvell Tech's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marvell Tech's whale trades within a strike price range from $30.0 to $78.0 in the last 30 days.
Marvell Tech 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BULLISH | 01/17/25 | $70.00 | $81.6K | 2.3K | 62 |
| MRVL | CALL | SWEEP | BULLISH | 04/19/24 | $72.50 | $52.4K | 23.5K | 104 |
| MRVL | CALL | TRADE | BULLISH | 07/19/24 | $65.00 | $48.6K | 601 | 40 |
| MRVL | PUT | SWEEP | BEARISH | 02/02/24 | $69.00 | $39.1K | 839 | 517 |
| MRVL | CALL | SWEEP | BULLISH | 02/23/24 | $78.00 | $38.4K | 2 | 492 |
About Marvell Tech
Marvell Technology is a fabless chip designer focused on wired networking, where it has the second-highest market share. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical and copper transceivers, switches, and storage controllers.
After a thorough review of the options trading surrounding Marvell Tech, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Marvell Tech
- Trading volume stands at 2,411,017, with MRVL's price down by -0.14%, positioned at $70.04.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 30 days.
What Analysts Are Saying About Marvell Tech
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $77.0.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Marvell Tech, targeting a price of $75.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Marvell Tech, targeting a price of $75.
- An analyst from Raymond James persists with their Outperform rating on Marvell Tech, maintaining a target price of $78.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $80.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Marvell Tech options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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