Call Volume Surges on Marvell Technology (MRVL)

Shares of Marvell Technology Group Ltd. MRVL are higher on the session by 9.53%, currently trading at $16.33. The stock is popping today on better than expected earnings news and increased guidance. Options traders are flocking to the calls today. So far, 75,000 calls have traded versus only 28,000 puts. Note that call volume is running at over 3x the daily average; put volume is running at ~1.50x the daily average. While there is a decent amount of trading in the front month, those options expire today, so it’s better to look to the out-months to see what’s active. Notably, the September $15.00 and $18.00 calls have both traded over 10,000 times each; volume did not exceed open interest on either strike, though. Traders should be careful as calls are being both purchased and sold today, meaning that investor sentiment is mixed. Note that the January 2011 $14.00 call is seeing over 23,000 contracts trade, but this appears to be a closing transaction on the open interest of 25,133 contracts. Marvell Technology Group Ltd. is a fabless semiconductor provider of application-specific standard products. The company develops complex system-on-a-chip devices using its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing and embedded advanced RISC machine (ARM)-based microprocessor integrated circuits. Analyze Any Stock FREE! Click Here.