High-rolling investors have positioned themselves bearish on Marvell Tech MRVL, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in MRVL often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Marvell Tech. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $76,160, and 7 calls, totaling $392,300.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $67.0 and $80.0 for Marvell Tech, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Marvell Tech's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Marvell Tech's whale trades within a strike price range from $67.0 to $80.0 in the last 30 days.
Marvell Tech Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BEARISH | 05/17/24 | $80.00 | $94.5K | 1.0K | 300 |
| MRVL | CALL | SWEEP | BEARISH | 03/15/24 | $75.00 | $84.4K | 13.7K | 860 |
| MRVL | PUT | SWEEP | BEARISH | 03/01/24 | $70.00 | $76.1K | 495 | 30 |
| MRVL | CALL | TRADE | BULLISH | 02/23/24 | $67.00 | $47.6K | 1.8K | 302 |
| MRVL | CALL | SWEEP | BEARISH | 03/15/24 | $75.00 | $45.1K | 13.7K | 52 |
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?
- With a trading volume of 582,022, the price of MRVL is down by -0.19%, reaching $69.74.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 13 days from now.
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.
