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 31 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $2,805,775 and 23, calls, for a total amount of $2,546,196.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $95.0 for Marvell Tech, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Marvell Tech's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marvell Tech's whale activity within a strike price range from $30.0 to $95.0 in 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 | PUT | TRADE | BULLISH | 06/21/24 | $70.00 | $2.3M | 809 | 2.6K |
| MRVL | CALL | SWEEP | BEARISH | 05/17/24 | $75.00 | $365.1K | 16.5K | 1.1K |
| MRVL | CALL | SWEEP | BEARISH | 05/17/24 | $75.00 | $357.7K | 16.5K | 2.1K |
| MRVL | CALL | SWEEP | NEUTRAL | 05/17/24 | $75.00 | $316.0K | 16.5K | 10.2K |
| MRVL | CALL | SWEEP | BEARISH | 05/17/24 | $75.00 | $282.5K | 16.5K | 4.3K |
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
Marvell Tech's Current Market Status
- With a volume of 3,157,751, the price of MRVL is down -0.22% at $67.29.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 20 days.
What Analysts Are Saying About Marvell Tech
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $79.0.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $80.
- Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Marvell Tech, targeting a price of $78.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Marvell Tech options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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