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 13 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 46% leaning bullish and 46% bearish. Among these notable options, 7 are puts, totaling $270,689, and 6 are calls, amounting to $689,130.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $52.5 to $95.0 for Marvell Tech during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Marvell Tech stands at 1071.0, with a total volume reaching 2,603.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Marvell Tech, situated within the strike price corridor from $52.5 to $95.0, throughout the last 30 days.
Marvell Tech Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRVL | CALL | SWEEP | BEARISH | 01/17/25 | $12.4 | $12.35 | $12.35 | $62.50 | $280.3K | 1.7K | 229 |
| MRVL | CALL | TRADE | BULLISH | 01/16/26 | $8.7 | $8.15 | $8.55 | $95.00 | $235.1K | 701 | 275 |
| MRVL | CALL | SWEEP | BEARISH | 11/15/24 | $8.55 | $8.45 | $8.45 | $65.00 | $76.8K | 283 | 30 |
| MRVL | PUT | SWEEP | BULLISH | 01/17/25 | $1.72 | $1.71 | $1.71 | $52.50 | $51.3K | 3.8K | 350 |
| MRVL | PUT | SWEEP | BULLISH | 06/20/25 | $4.55 | $4.4 | $4.45 | $55.00 | $51.1K | 726 | 130 |
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.
Current Position of Marvell Tech
- With a volume of 2,978,908, the price of MRVL is up 1.73% at $70.12.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 80 days.
Expert Opinions on Marvell Tech
5 market experts have recently issued ratings for this stock, with a consensus target price of $94.0.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Marvell Tech, which currently sits at a price target of $98.
- Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Marvell Tech with a target price of $95.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Marvell Tech, maintaining a target price of $82.
- In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $95.
- Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Marvell Tech with a target price of $100.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Marvell Tech options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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