Whales with a lot of money to spend have taken a noticeably bullish stance on Marvell Tech.
Looking at options history for Marvell Tech MRVL we detected 41 trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 39% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $912,129 and 25, calls, for a total amount of $1,860,562.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $42.5 to $77.5 for Marvell Tech over the recent three 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 $42.5 to $77.5 over the preceding 30 days.
Marvell Tech 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | PUT | SWEEP | BULLISH | 05/17/24 | $55.00 | $362.2K | 675 | 1.3K |
| MRVL | CALL | SWEEP | BULLISH | 01/17/25 | $42.50 | $255.5K | 491 | 100 |
| MRVL | CALL | SWEEP | BULLISH | 03/08/24 | $65.00 | $201.2K | 47 | 519 |
| MRVL | CALL | SWEEP | BEARISH | 05/17/24 | $70.00 | $158.7K | 1.2K | 444 |
| MRVL | CALL | SWEEP | BEARISH | 12/20/24 | $70.00 | $141.0K | 100 | 150 |
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.
Following our analysis of the options activities associated with Marvell Tech, we pivot to a closer look at the company's own performance.
Where Is Marvell Tech Standing Right Now?
- With a trading volume of 7,835,930, the price of MRVL is down by -1.27%, reaching $65.45.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 16 days from now.
Professional Analyst Ratings for Marvell Tech
1 market experts have recently issued ratings for this stock, with a consensus target price of $80.0.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $80.
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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