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 14 uncommon options trades for Marvell Tech.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $121,597, and 12 are calls, for a total amount of $572,142.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $57.5 for Marvell Tech during the past quarter.
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 $40.0 to $57.5 over the preceding 30 days.
Marvell Tech Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BEARISH | 12/15/23 | $57.50 | $82.4K | 9.3K | 2.7K |
| MRVL | PUT | SWEEP | NEUTRAL | 01/19/24 | $55.00 | $68.2K | 4.2K | 1.4K |
| MRVL | CALL | SWEEP | BULLISH | 01/19/24 | $57.50 | $66.2K | 2.3K | 555 |
| MRVL | PUT | SWEEP | BEARISH | 01/19/24 | $55.00 | $53.3K | 4.2K | 685 |
| MRVL | CALL | SWEEP | BEARISH | 12/15/23 | $57.50 | $53.0K | 9.3K | 3.4K |
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.
Current Position of Marvell Tech
- Currently trading with a volume of 5,112,180, the MRVL's price is up by 0.86%, now at $56.06.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 1 days.
What Analysts Are Saying About Marvell Tech
In the last month, 1 experts released ratings on this stock with an average target price of $60.0.
- An analyst from Roth MKM downgraded its action to Buy with a price target of $60.
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
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
