Deep-pocketed investors have adopted a bearish 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 9 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 22% leaning bullish and 55% bearish. Among these notable options, 2 are puts, totaling $59,285, and 7 are calls, amounting to $370,221.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $65.0 and $90.0 for Marvell Tech, spanning the last three months.
Volume & Open Interest Development
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 $65.0 to $90.0 over the preceding 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BEARISH | 12/20/24 | $7.0 | $6.95 | $6.95 | $77.50 | $89.6K | 1.7K | 0 |
| MRVL | CALL | TRADE | BEARISH | 07/19/24 | $2.26 | $2.22 | $2.22 | $72.50 | $66.6K | 8.0K | 228 |
| MRVL | CALL | TRADE | NEUTRAL | 08/16/24 | $4.9 | $4.8 | $4.85 | $70.00 | $54.3K | 2.0K | 38 |
| MRVL | CALL | SWEEP | BEARISH | 09/20/24 | $1.47 | $1.43 | $1.43 | $90.00 | $51.4K | 6.2K | 17 |
| MRVL | CALL | SWEEP | BEARISH | 01/17/25 | $13.2 | $13.1 | $13.1 | $65.00 | $48.4K | 2.4K | 0 |
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?
- Currently trading with a volume of 2,682,772, the MRVL's price is down by -3.2%, now at $69.59.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 59 days.
Expert Opinions on Marvell Tech
5 market experts have recently issued ratings for this stock, with a consensus target price of $93.2.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Marvell Tech, which currently sits at a price target of $91.
- An analyst from Stifel has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $90.
- Reflecting concerns, an analyst from Oppenheimer lowers its rating to Outperform with a new price target of $90.
- Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Marvell Tech with a target price of $100.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $95.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Marvell Tech with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
