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

High-rolling investors have positioned themselves bearish 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 8 options trades for Marvell Tech. This is not a typical pattern.

The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $38,634, and 7 calls, totaling $328,427.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $60.0 for Marvell Tech over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Marvell Tech's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Marvell Tech's substantial trades, within a strike price spectrum from $40.0 to $60.0 over the preceding 30 days.

Marvell Tech 30-Day Option Volume & Interest Snapshot

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 $60.00 $96.0K 21.7K 0
MRVL CALL TRADE BEARISH 02/16/24 $60.00 $66.7K 1.8K 201
MRVL PUT SWEEP BEARISH 01/19/24 $57.50 $38.6K 3.9K 86
MRVL CALL SWEEP BEARISH 05/17/24 $50.00 $36.9K 133 30
MRVL CALL SWEEP BULLISH 02/16/24 $60.00 $36.1K 1.8K 409

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.

Having examined the options trading patterns of Marvell Tech, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Marvell Tech Standing Right Now?

  • Trading volume stands at 2,273,660, with MRVL's price down by -0.37%, positioned at $59.5.
  • RSI indicators show the stock to be may be approaching overbought.
  • Earnings announcement expected in 72 days.

What Analysts Are Saying About Marvell Tech

5 market experts have recently issued ratings for this stock, with a consensus target price of $66.0.

  • Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Marvell Tech, targeting a price of $70.
  • An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Marvell Tech, which currently sits at a price target of $63.
  • An analyst from Needham downgraded its action to Buy with a price target of $65.
  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Marvell Tech with a target price of $70.
  • Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Marvell Tech with a target price of $62.

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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