What the Options Market Tells Us About Marvell Tech

Deep-pocketed investors have adopted a bullish approach towards Marvell Tech MRVL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MRVL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Marvell Tech. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 69% leaning bullish and 30% bearish. Among these notable options, 9 are puts, totaling $477,056, and 27 are calls, amounting to $3,107,417.

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 $57.5 and $87.5 for Marvell Tech, spanning the last three months.

Analyzing 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 $57.5 to $87.5 over the preceding 30 days.

Marvell Tech Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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

Current Position of Marvell Tech

• With a volume of 2,945,132, the price of MRVL is up 3.93% at $68.72.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 58 days.

What Analysts Are Saying About Marvell Tech

5 market experts have recently issued ratings for this stock, with a consensus target price of $92.0.

• Consistent in their evaluation, an analyst from TD Cowen keeps a Outperform rating on Marvell Tech with a target price of $90.
• Maintaining their stance, an analyst from Cantor Fitzgerald continues to hold a Overweight rating for Marvell Tech, targeting a price of $85.
• In a cautious move, an analyst from Piper Sandler downgraded its rating to Overweight, setting a price target of $100.
• An analyst from Argus Research has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $95.
• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Buy rating for Marvell Tech, targeting a price of $90.

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.