Marvell Tech's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bearish stance on Marvell Tech.

Looking at options history for Marvell Tech MRVL we detected 14 trades.

If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 57% with bearish.

From the overall spotted trades, 7 are puts, for a total amount of $472,322 and 7, calls, for a total amount of $651,057.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $47.5 to $60.0 for Marvell Tech over the recent three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Marvell Tech options trades today is 2009.5 with a total volume of 9,534.00.

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 $47.5 to $60.0 over the last 30 days.

Marvell Tech Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MRVL CALL SWEEP BULLISH 03/15/24 $52.50 $350.4K 8.6K 3.4K
MRVL PUT SWEEP BEARISH 03/15/24 $50.00 $239.0K 2.0K 1.0K
MRVL CALL SWEEP BEARISH 05/17/24 $55.00 $91.0K 700 249
MRVL CALL TRADE BULLISH 09/20/24 $55.00 $63.3K 131 0
MRVL PUT SWEEP BULLISH 02/16/24 $57.50 $52.0K 827 100

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.

Current Position of Marvell Tech

  • With a volume of 6,511,694, the price of MRVL is up 1.55% at $53.7.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 80 days.

What Analysts Are Saying About Marvell Tech

5 market experts have recently issued ratings for this stock, with a consensus target price of $75.0.

  • An analyst from UBS has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $70.
  • Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Marvell Tech with a target price of $70.
  • An analyst from Piper Sandler has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $70.
  • An analyst from Susquehanna has decided to maintain their Positive rating on Marvell Tech, which currently sits at a price target of $65.
  • An analyst from Rosenblatt has revised its rating downward to Buy, adjusting the price target to $100.

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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