Investors with a lot of money to spend have taken a bearish 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 29 uncommon options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 48% bullish and 51%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $509,511, and 24 are calls, for a total amount of $1,289,985.
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 $57.5 and $95.0 for Marvell Tech, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Marvell Tech stands at 2075.94, with a total volume reaching 13,962.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Marvell Tech, situated within the strike price corridor from $57.5 to $95.0, throughout the last 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | PUT | SWEEP | BEARISH | 03/15/24 | $62.50 | $291.7K | 651 | 871 |
| MRVL | CALL | TRADE | BULLISH | 03/15/24 | $67.50 | $266.0K | 1.7K | 700 |
| MRVL | PUT | SWEEP | NEUTRAL | 03/15/24 | $62.50 | $135.9K | 651 | 876 |
| MRVL | CALL | SWEEP | BEARISH | 01/26/24 | $67.00 | $75.0K | 263 | 806 |
| MRVL | CALL | TRADE | BULLISH | 03/15/24 | $67.50 | $69.9K | 1.7K | 1.1K |
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.
Where Is Marvell Tech Standing Right Now?
- Trading volume stands at 6,883,345, with MRVL's price down by -0.06%, positioned at $65.64.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 44 days.
What The Experts Say On Marvell Tech
In the last month, 2 experts released ratings on this stock with an average target price of $75.0.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Marvell Tech, targeting a price of $75.
- An analyst from Barclays has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $75.
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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