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 70 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 58% leaning bullish and 41% bearish. Among these notable options, 9 are puts, totaling $392,377, and 61 are calls, amounting to $4,218,890.
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 $77.5 for Marvell Tech, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Marvell Tech's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Marvell Tech's significant trades, within a strike price range of $57.5 to $77.5, over the past month.
Marvell Tech Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | TRADE | BEARISH | 03/15/24 | $75.00 | $739.2K | 6.5K | 3.9K |
| MRVL | CALL | SWEEP | BEARISH | 04/19/24 | $72.50 | $331.1K | 22.6K | 6.8K |
| MRVL | CALL | SWEEP | BEARISH | 04/19/24 | $72.50 | $206.8K | 22.6K | 6.2K |
| MRVL | CALL | SWEEP | BULLISH | 04/19/24 | $72.50 | $180.3K | 22.6K | 7.3K |
| MRVL | CALL | TRADE | NEUTRAL | 04/19/24 | $72.50 | $143.0K | 22.6K | 8.3K |
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.
Present Market Standing of Marvell Tech
- With a volume of 3,275,881, the price of MRVL is up 0.22% at $70.27.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 37 days.
Professional Analyst Ratings for Marvell Tech
In the last month, 4 experts released ratings on this stock with an average target price of $77.0.
- An analyst from Barclays has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $75.
- Maintaining their stance, an analyst from Raymond James continues to hold a Outperform rating for Marvell Tech, targeting a price of $78.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Marvell Tech, targeting a price of $75.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $80.
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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