Investors with significant funds have taken a bullish position in Marvell Tech MRVL, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in MRVL usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Marvell Tech. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 50% being bullish and 50% bearish. Of all the options we discovered, 7 are puts, valued at $480,460, and there was a single call, worth $53,698.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $65.0 to $90.0 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 1098.75 with a total volume of 1,919.00.
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 $65.0 to $90.0 over the last 30 days.
Marvell Tech Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | PUT | TRADE | BULLISH | 06/21/24 | $65.00 | $152.1K | 1.3K | 267 |
| MRVL | PUT | SWEEP | BULLISH | 09/20/24 | $70.00 | $79.6K | 31 | 20 |
| MRVL | PUT | TRADE | BULLISH | 09/20/24 | $70.00 | $60.0K | 31 | 320 |
| MRVL | PUT | TRADE | NEUTRAL | 09/20/24 | $70.00 | $60.0K | 31 | 260 |
| MRVL | CALL | SWEEP | BEARISH | 06/21/24 | $90.00 | $53.6K | 687 | 344 |
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.
After a thorough review of the options trading surrounding Marvell Tech, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Marvell Tech's Current Market Status
- Trading volume stands at 2,498,016, with MRVL's price up by 0.37%, positioned at $67.27.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 23 days.
What The Experts Say On Marvell Tech
4 market experts have recently issued ratings for this stock, with a consensus target price of $77.0.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Marvell Tech, targeting a price of $75.
- An analyst from Citigroup has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $75.
- An analyst from Raymond James has decided to maintain their Outperform rating on Marvell Tech, which currently sits at a price target of $78.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $80.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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