Spotlight on Marvell Tech: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bullish stance on Marvell Tech MRVL.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MRVL, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Marvell Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 80% bullish and 20%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $213,520, and 6 are calls, for a total amount of $669,494.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $77.5 for Marvell Tech, spanning the last three months.

Volume & Open Interest Development

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 $60.0 to $77.5 in the last 30 days.

Marvell Tech 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
MRVL CALL SWEEP BULLISH 08/16/24 $12.0 $11.9 $12.0 $60.00 $287.9K 239 0
MRVL CALL SWEEP BULLISH 01/16/26 $19.5 $18.5 $19.5 $65.00 $146.2K 423 75
MRVL CALL SWEEP BULLISH 08/16/24 $12.05 $11.95 $12.05 $60.00 $136.1K 239 356
MRVL PUT SWEEP BULLISH 09/20/24 $4.65 $4.6 $4.6 $62.50 $74.0K 1.6K 0
MRVL PUT TRADE BULLISH 09/20/24 $13.1 $13.0 $13.0 $77.50 $65.0K 441 0

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.

Marvell Tech's Current Market Status

  • With a trading volume of 1,427,343, the price of MRVL is down by -0.58%, reaching $68.28.
  • Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
  • Next earnings report is scheduled for 22 days from now.

Expert Opinions on Marvell Tech

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $89.8.

  • Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Marvell Tech with a target price of $86.
  • An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $88.
  • Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Marvell Tech with a target price of $95.
  • An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $85.
  • Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $95.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Marvell Tech, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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