Investors with a lot of money to spend have taken a bullish stance on Marvell Tech MRVL.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MRVL, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 53 uncommon options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 56% bullish and 43%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $159,496, and 51 are calls, for a total amount of $3,557,728.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.5 to $85.0 for Marvell Tech over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Marvell Tech stands at 3856.41, with a total volume reaching 97,042.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Marvell Tech, situated within the strike price corridor from $37.5 to $85.0, throughout the last 30 days.
Marvell Tech Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | TRADE | BULLISH | 01/17/25 | $37.50 | $347.9K | 911 | 100 |
| MRVL | CALL | SWEEP | BULLISH | 05/17/24 | $75.00 | $302.5K | 707 | 5.8K |
| MRVL | CALL | SWEEP | BULLISH | 01/17/25 | $70.00 | $301.0K | 2.5K | 300 |
| MRVL | CALL | SWEEP | BULLISH | 05/17/24 | $75.00 | $170.9K | 707 | 2.3K |
| MRVL | CALL | SWEEP | BULLISH | 05/17/24 | $75.00 | $118.8K | 707 | 813 |
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 5,890,958, the price of MRVL is up 4.29% at $71.78.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 24 days.
What The Experts Say On Marvell Tech
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $77.66666666666667.
- An analyst from Barclays persists with their Overweight rating on Marvell Tech, maintaining a target price of $75.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $80.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Marvell Tech with a target price of $78.
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.
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