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 16 uncommon options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 31%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $127,430, and 13 are calls, for a total amount of $1,246,386.
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 $47.5 to $120.0 for Marvell Tech during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Marvell Tech options trades today is 2170.29 with a total volume of 1,546.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Marvell Tech's big money trades within a strike price range of $47.5 to $120.0 over the last 30 days.
Marvell Tech Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | TRADE | BULLISH | 01/17/25 | $1.5 | $1.44 | $1.5 | $120.00 | $600.0K | 2.0K | 1 |
| MRVL | CALL | TRADE | BULLISH | 07/19/24 | $4.8 | $4.8 | $4.8 | $72.50 | $144.0K | 9.1K | 178 |
| MRVL | CALL | TRADE | NEUTRAL | 01/16/26 | $20.85 | $20.45 | $20.65 | $70.00 | $88.7K | 699 | 4 |
| MRVL | CALL | TRADE | BEARISH | 06/21/24 | $6.65 | $5.6 | $5.6 | $69.00 | $70.0K | 1.4K | 31 |
| MRVL | CALL | SWEEP | BEARISH | 06/28/24 | $2.99 | $2.74 | $2.97 | $73.00 | $59.4K | 964 | 113 |
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.
In light of the recent options history for Marvell Tech, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Marvell Tech's Current Market Status
- Currently trading with a volume of 4,983,254, the MRVL's price is up by 2.42%, now at $74.91.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 63 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 $89.4.
- An analyst from Needham downgraded its action to Buy with a price target of $95.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Marvell Tech, which currently sits at a price target of $77.
- Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $85.
- Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Marvell Tech, targeting a price of $100.
- In a cautious move, an analyst from Oppenheimer downgraded its rating to Outperform, setting a price target 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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