Someone with a lot of money to spend has taken a bearish stance on Marvell Tech MRVL.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with MRVL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 35 options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $33,495, and 34, calls, for a total amount of $1,626,138..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.5 to $95.0 for Marvell Tech over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Marvell Tech options trades today is 1020.88 with a total volume of 37,233.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Marvell Tech's big money trades within a strike price range of $22.5 to $95.0 over the last 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BEARISH | 09/15/23 | $60.00 | $164.0K | 3.2K | 230 |
| MRVL | CALL | SWEEP | BEARISH | 08/04/23 | $61.00 | $82.0K | 763 | 681 |
| MRVL | CALL | SWEEP | NEUTRAL | 08/04/23 | $61.00 | $68.9K | 763 | 522 |
| MRVL | CALL | SWEEP | BEARISH | 09/15/23 | $60.00 | $67.6K | 3.2K | 266 |
| MRVL | CALL | TRADE | NEUTRAL | 01/17/25 | $30.00 | $58.9K | 134 | 15 |
Where Is Marvell Tech Standing Right Now?
- With a volume of 5,474,295, the price of MRVL is up 1.31% at $65.98.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 23 days.
What The Experts Say On Marvell Tech:
- Barclays has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $75.
- Keybanc has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $80.
- Stifel has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $75.
- Wolfe Research downgraded its action to Outperform with a price target of $80
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
