Financial giants have made a conspicuous bearish move on Marvell Tech. Our analysis of options history for Marvell Tech MRVL revealed 40 unusual trades.
Delving into the details, we found 35% of traders were bullish, while 65% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $275,363, and 34 were calls, valued at $2,377,215.
What's The Price Target?
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 $110.0 for Marvell Tech, spanning the last three months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $65.0 to $110.0 in 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 | CALL | SWEEP | BULLISH | 03/08/24 | $80.00 | $265.0K | 5.7K | 1.8K |
| MRVL | CALL | SWEEP | BEARISH | 03/08/24 | $80.00 | $246.9K | 5.7K | 2.3K |
| MRVL | CALL | SWEEP | BEARISH | 04/19/24 | $75.00 | $189.1K | 10.0K | 418 |
| MRVL | CALL | SWEEP | NEUTRAL | 01/17/25 | $75.00 | $187.0K | 2.7K | 130 |
| MRVL | CALL | SWEEP | BEARISH | 04/19/24 | $75.00 | $162.2K | 10.0K | 219 |
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.
Marvell Tech's Current Market Status
- With a volume of 4,501,438, the price of MRVL is up 3.67% at $81.62.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 1 days.
What The Experts Say On Marvell Tech
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $89.5.
- In a cautious move, an analyst from B. Riley Securities downgraded its rating to Buy, setting a price target of $95.
- An analyst from UBS has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $83.
- In a cautious move, an analyst from Oppenheimer downgraded its rating to Outperform, setting a price target of $80.
- An analyst from Rosenblatt downgraded its action to Buy with a price target of $100.
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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