Whales with a lot of money to spend have taken a noticeably bearish stance on Marvell Tech.
Looking at options history for Marvell Tech MRVL we detected 45 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 27 are puts, for a total amount of $1,608,413 and 18, calls, for a total amount of $805,624.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $95.0 for Marvell Tech over the recent three months.
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 $95.0 over the preceding 30 days.
Marvell Tech 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BEARISH | 04/19/24 | $70.00 | $132.9K | 3.6K | 32 |
| MRVL | PUT | SWEEP | BEARISH | 06/21/24 | $70.00 | $113.4K | 4.6K | 211 |
| MRVL | PUT | SWEEP | BULLISH | 04/19/24 | $62.50 | $102.0K | 1.5K | 2.6K |
| MRVL | PUT | SWEEP | BULLISH | 04/19/24 | $80.00 | $89.4K | 1.8K | 340 |
| MRVL | PUT | SWEEP | BULLISH | 04/19/24 | $80.00 | $88.5K | 1.8K | 140 |
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.
After a thorough review of the options trading surrounding Marvell Tech, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Marvell Tech's Current Market Status
- Trading volume stands at 12,879,158, with MRVL's price down by -1.91%, positioned at $73.98.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 73 days.
Expert Opinions on Marvell Tech
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $89.4.
- Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $100.
- An analyst from Wolfe Research has decided to maintain their Outperform rating on Marvell Tech, which currently sits at a price target of $90.
- Maintaining their stance, an analyst from Craig-Hallum continues to hold a Buy rating for Marvell Tech, targeting a price of $88.
- An analyst from Cantor Fitzgerald has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $85.
- An analyst from Goldman Sachs persists with their Buy rating on Marvell Tech, maintaining a target price of $84.
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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