Deep-pocketed investors have adopted a bullish approach towards Marvell Tech (NASDAQ: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 17 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 41% leaning bullish and 41% bearish. Among these notable options, 7 are puts, totaling $475,577, and 10 are calls, amounting to $585,778.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $55.0 to $82.5 for Marvell Tech during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Marvell Tech stands at 1191.23, with a total volume reaching 2,761.00. 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 $55.0 to $82.5, throughout the last 30 days.
Marvell Tech 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRVL | PUT | TRADE | BULLISH | 12/20/24 | $4.45 | $4.35 | $4.35 | $60.00 | $208.8K | 287 | 4 |
| MRVL | CALL | SWEEP | BEARISH | 11/15/24 | $12.45 | $12.3 | $12.3 | $60.00 | $148.8K | 247 | 0 |
| MRVL | CALL | SWEEP | BULLISH | 11/15/24 | $7.35 | $7.3 | $7.4 | $67.50 | $148.0K | 532 | 0 |
| MRVL | PUT | TRADE | NEUTRAL | 12/20/24 | $10.85 | $10.75 | $10.8 | $72.50 | $77.7K | 924 | 10 |
| MRVL | CALL | SWEEP | BEARISH | 11/15/24 | $12.45 | $12.25 | $12.3 | $60.00 | $56.5K | 247 | 0 |
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.
Present Market Standing of Marvell Tech
- With a volume of 4,845,765, the price of MRVL is up 2.66% at $69.74.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 35 days.
Professional Analyst Ratings for Marvell Tech
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $95.0.
- An analyst from Keybanc persists with their Overweight rating on Marvell Tech, maintaining a target price of $95.
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.