Decoding Marvell Tech's Options Activity: What's the Big Picture?

Deep-pocketed investors have adopted a bullish approach towards Marvell Tech MRVL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MRVL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Marvell Tech. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 64% leaning bullish and 35% bearish. Among these notable options, 6 are puts, totaling $242,911, and 8 are calls, amounting to $801,362.

What's The Price Target?

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 $75.0 for Marvell Tech, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Marvell Tech stands at 2191.09, with a total volume reaching 5,512.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Marvell Tech, situated within the strike price corridor from $60.0 to $75.0, throughout the last 30 days.

Marvell Tech Option Activity Analysis: Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
MRVL CALL SWEEP BEARISH 09/20/24 $9.05 $8.95 $8.95 $65.00 $192.4K 436 216
MRVL CALL SWEEP BEARISH 12/20/24 $13.2 $13.1 $13.1 $62.50 $149.3K 157 115
MRVL CALL TRADE BEARISH 08/16/24 $2.56 $2.51 $2.53 $75.00 $126.5K 12.2K 821
MRVL CALL SWEEP BULLISH 08/16/24 $2.5 $2.45 $2.5 $75.00 $124.7K 12.2K 1.9K
MRVL CALL SWEEP BULLISH 08/16/24 $2.51 $2.46 $2.51 $75.00 $75.3K 12.2K 1.4K

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.

Marvell Tech's Current Market Status

  • Trading volume stands at 1,846,633, with MRVL's price up by 1.49%, positioned at $69.0.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 73 days.

Professional Analyst Ratings for Marvell Tech

In the last month, 5 experts released ratings on this stock with an average target price of $87.6.

  • An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Marvell Tech, which currently sits at a price target of $77.
  • An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $95.
  • An analyst from Jefferies has revised its rating downward to Buy, adjusting the price target to $85.
  • An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Marvell Tech, which currently sits at a price target of $91.
  • An analyst from Stifel persists with their Buy rating on Marvell Tech, maintaining a target price of $90.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Marvell Tech with Benzinga Pro for real-time alerts.

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Posted In: OptionsMarketsBZI-UOA
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