High-rolling investors have positioned themselves bullish on Marvell Tech (NASDAQ: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 24 options trades for Marvell Tech. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $64,000, and 23 calls, totaling $1,430,032.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $95.0 for Marvell Tech over the last 3 months.
Volume & Open Interest Trends
In today’s trading context, the average open interest for options of Marvell Tech stands at 3263.94, with a total volume reaching 4,314.00. 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 $50.0 to $95.0, throughout the last 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol |
PUT/CALL |
Trade Type |
Sentiment |
Exp. Date |
Ask |
Bid |
Price |
Strike Price |
Total Trade Price |
Open Interest |
Volume |
| MRVL |
CALL |
TRADE |
NEUTRAL |
04/19/24 |
$6.15 |
$6.05 |
$6.1 |
$67.50 |
$255.5K |
3.1K |
445 |
| MRVL |
CALL |
SWEEP |
BULLISH |
04/12/24 |
$7.6 |
$7.5 |
$7.6 |
$65.00 |
$152.0K |
93 |
201 |
| MRVL |
CALL |
SWEEP |
BEARISH |
06/21/24 |
$4.9 |
$4.85 |
$4.9 |
$77.50 |
$113.6K |
2.5K |
283 |
| MRVL |
CALL |
TRADE |
BEARISH |
01/17/25 |
$23.65 |
$23.0 |
$23.0 |
$55.00 |
$92.0K |
812 |
40 |
| MRVL |
CALL |
SWEEP |
BULLISH |
04/19/24 |
$3.5 |
$3.4 |
$3.5 |
$72.00 |
$87.5K |
1.0K |
211 |
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.
Having examined the options trading patterns of Marvell Tech, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Marvell Tech Standing Right Now?
- Trading volume stands at 2,774,288, with MRVL’s price down by -1.58%, positioned at $72.05.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 51 days.
What Analysts Are Saying About Marvell Tech
5 market experts have recently issued ratings for this stock, with a consensus target price of $92.6.
- An analyst from Craig-Hallum has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $88.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Marvell Tech, targeting a price of $90.
- An analyst from B. Riley Securities downgraded its action to Buy with a price target of $95.
- An analyst from Wolfe Research persists with their Outperform rating on Marvell Tech, maintaining a target price of $90.
- In a cautious move, an analyst from Rosenblatt downgraded its rating to Buy, setting a price target of $100.
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.
