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 18 uncommon options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $950,564, and 12 are calls, for a total amount of $753,512.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $120.0 for Marvell Tech during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $60.0 to $120.0 in the last 30 days.
Marvell Tech 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | PUT | TRADE | BEARISH | 03/28/24 | $80.00 | $412.1K | 434 | 329 |
| MRVL | CALL | SWEEP | BULLISH | 04/19/24 | $72.50 | $222.2K | 18.6K | 1.3K |
| MRVL | PUT | SWEEP | BULLISH | 05/17/24 | $70.00 | $213.5K | 1.4K | 331 |
| MRVL | CALL | SWEEP | BULLISH | 03/22/24 | $68.00 | $147.2K | 973 | 831 |
| MRVL | PUT | SWEEP | BEARISH | 03/15/24 | $68.00 | $111.4K | 1.0K | 1.0K |
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.
Current Position of Marvell Tech
- With a volume of 3,781,571, the price of MRVL is down -0.53% at $65.73.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 69 days.
What Analysts Are Saying About Marvell Tech
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $93.8.
- An analyst from Susquehanna persists with their Positive rating on Marvell Tech, maintaining a target price of $95.
- Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $100.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Marvell Tech with a target price of $84.
- An analyst from Deutsche Bank persists with their Buy rating on Marvell Tech, maintaining a target price of $90.
- An analyst from Piper Sandler downgraded its action to Overweight with a price target of $100.
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.
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