Investors with a lot of money to spend have taken a bullish stance on CVS Health (NYSE:CVS).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with CVS, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga‘s options scanner spotted 8 uncommon options trades for CVS Health.

This isn’t normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $234,253, and 6 are calls, for a total amount of $196,453.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $72.5 and $80.0 for CVS Health, spanning the last three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for CVS Health’s options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across CVS Health’s significant trades, within a strike price range of $72.5 to $80.0, over the past month.

CVS Health 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
CVS	PUT	SWEEP	BEARISH	05/17/24	$2.02	$1.96	$1.96	$72.50	$174.2K	2.1K	1.2K
CVS	PUT	SWEEP	BEARISH	05/17/24	$1.96	$1.91	$1.96	$72.50	$60.0K	2.1K	393
CVS	CALL	SWEEP	BULLISH	01/17/25	$6.65	$6.55	$6.65	$75.00	$39.9K	3.7K	127
CVS	CALL	SWEEP	BULLISH	06/20/25	$6.9	$6.65	$6.9	$77.50	$37.9K	83	55
CVS	CALL	SWEEP	BULLISH	05/17/24	$2.15	$2.11	$2.14	$75.00	$35.0K	5.1K	652

About CVS Health

CVS Health offers a diverse set of healthcare services. Its roots are in its retail pharmacy operations, where it operates over 9,000 stores primarily in the U.S. CVS is also the largest pharmacy benefit manager (acquired through Caremark), processing over 2 billion adjusted claims annually. It also operates a top-tier health insurer (acquired through Aetna) where it serves about 26 million medical members. The company’s recent acquisition of Oak Street adds primary care services to the mix, which could have significant synergies with all its existing business lines.

In light of the recent options history for CVS Health, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of CVS Health

• Trading volume stands at 4,083,111, with CVS’s price up by 0.28%, positioned at $74.03.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 28 days.

Expert Opinions on CVS Health

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $86.0.

• An analyst from Piper Sandler persists with their Overweight rating on CVS Health, maintaining a target price of $94.
• Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $78.

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 CVS Health options trades with real-time alerts from Benzinga Pro.

Financial giants have made a conspicuous bullish move on ON Semiconductor. Our analysis of options history for ON Semiconductor (NASDAQ:ON) revealed 9 unusual trades.

Delving into the details, we found 66% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $110,100, and 6 were calls, valued at $359,035.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $50.0 and $70.0 for ON Semiconductor, spanning the last three months.

Volume & Open Interest Trends

In today’s trading context, the average open interest for options of ON Semiconductor stands at 650.5, with a total volume reaching 3,435.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ON Semiconductor, situated within the strike price corridor from $50.0 to $70.0, throughout the last 30 days.

ON Semiconductor 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
ON	CALL	SWEEP	BULLISH	04/19/24	$3.55	$3.5	$3.5	$70.00	$88.9K	2.3K	776
ON	CALL	SWEEP	BULLISH	04/19/24	$3.5	$3.4	$3.45	$70.00	$86.2K	2.3K	1.0K
ON	CALL	SWEEP	BULLISH	04/19/24	$2.89	$2.85	$2.85	$70.00	$69.5K	2.3K	244
ON	CALL	SWEEP	BEARISH	04/12/24	$8.2	$6.8	$6.8	$64.00	$57.1K	0	84
ON	PUT	TRADE	BULLISH	09/20/24	$1.4	$1.2	$1.24	$50.00	$49.6K	93	402

About ON Semiconductor

Onsemi is a supplier of power semiconductors and sensors focused on the automotive and industrial markets. Onsemi is the second-largest power chipmaker in the world and the largest supplier of image sensors to the automotive market. While the firm used to be highly vertically integrated, it now pursues a hybrid manufacturing strategy for flexible capacity. Onsemi is pivoting to focus on emerging applications like electric vehicles, autonomous vehicles, industrial automation, and renewable energy.

Current Position of ON Semiconductor

• Trading volume stands at 1,596,114, with ON’s price down by -0.51%, positioned at $70.12.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 26 days.

Professional Analyst Ratings for ON Semiconductor

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $82.0.

• Reflecting concerns, an analyst from Stifel lowers its rating to Hold with a new price target of $82.
• Reflecting concerns, an analyst from Stifel lowers its rating to Hold with a new price target of $82.

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 ON Semiconductor, Benzinga Pro gives you real-time options trades alerts.

Hilton Hotels Corporation (NYSE:HLT) has acquired a majority controlling interest in Sydell Group to expand the NoMad Hotels brand.

With the acquisition, Hilton aims to expand the NoMad brand from its London flagship location to high-end markets around the world.

The move marks Hilton’s entry into the fast-growing luxury lifestyle hotel market.

Sydell, led by founder Andrew Zobler, has created seven lifestyle brands with hotel concepts including NoMad, The Line, Freehand and The Ned.

While Sydell will be responsible for design, branding and management of the NoMad brand, Hilton will lead all development.

The NoMad brand will be integrated into Hilton’s commercial platforms like Hilton Honors and all of its properties will remain independently owned.

Hilton aims to develop as many as 100 NoMad properties globally.

“By pairing an already proven brand concept that’s ready for expansion with the power of Hilton’s commercial engine, we are accelerating our ability to drive growth in the luxury lifestyle segment,” said president, global brands and commercial services Chris Silcock.

The financial terms of the transaction were not disclosed. Hilton held $800 million in cash and equivalents as of Dec. 31, 2023.

HLT Price Action: HLT shares are trading higher by 1.03% at $212.53 at last check Wednesday.

Photo via Shutterstock.

Dallas Mavericks owner Mark Cuban expressed his opinion about the hype regarding artificial intelligence, addressing skepticism about the existence of an AI bubble in the current market.

What Happened: Cuban addressed concerns surrounding a potential AI bubble on the Lex Fridman Podcast. He recalled the dot-com era “frothiness” in the technology industry to explain whether the current hype is a sign of an AI bubble or not.

“There were people creating companies with just a website and going public. That’s a bubble where there’s no intrinsic value at all,” Fridman said, recalling his sale of Broadcast.com to Yahoo

To recall, Yahoo acquired Broadcast.com from Cuban and his partner, Todd Wagner, for a staggering $5.7 billion. This is Yahoo’s biggest acquisition to date.

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Cuban received 14.6 million Yahoo shares, worth $1.4 billion, skyrocketing into the billionaire club overnight. But that is not even the whole story.

Cuban knows a thing or two about stock market bubbles – he saved his $1.4 billion wealth after selling Broadcast.com to Yahoo by entering into “collar” options trade with investment bank Goldman Sachs to protect his wealth.

A collar trade is one where calls are sold and puts are purchased. This is done with the viewpoint of protecting as much capital as possible in times of turbulence, where it is difficult to predict the direction of the market.

“People were not even trying to make operating cap profits, they were just trying to leverage the frothiness of the stock market, that’s a bubble.”

See Also: Jeff Bezos Convinced His Siblings To Invest $10K Each In His Online Startup Called Amazon — Here’s How Much Their Investment Is Worth Now

But is the current AI hype a precursor to an AI bubble? Cuban pointed out that the lack of IPOs in the AI sector is a reassuring sign that the market is not in a bubble.

Cuban also mentioned the absence of companies with no intrinsic value going public, a phenomenon that was prevalent during the dot-com bubble.

He noted that the current market does not exhibit such characteristics, which further supports his view that there is no AI bubble at present.

He added that the absence of “funky AI companies” going public is a key indicator.

He did, however, acknowledge the potential risk, citing his son’s investment in Nvidia Corp. (NASDAQ:NVDA) as a sign to watch out for.

Why It Matters: Cuban’s comments come in the wake of growing concerns about a potential AI bubble. Several industry experts have been warning about the possibility of a market correction due to the excessive hype surrounding AI.

Earlier in March, tech stock analyst Richard Windsor highlighted three major occurrences that could signify an AI bubble.

This was followed by a warning from Google DeepMind co-founder Sir Demis Hassabis about the exaggerated hype overshadowing the actual scientific progress in the AI sector.

However, Cuban’s perspective offers a different angle, focusing on the lack of IPOs and companies with no intrinsic value going public as key indicators that the market is not in a bubble. This stance adds an interesting dimension to the ongoing debate about the state of the AI market.

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next: Happy 48, Apple: If You Invested $1000 In Apple When It Went Public, Here’s How Much You’d Have

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo courtesy: Wikimedia

The Dow Jones index closed lower by around 400 points on Tuesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company’s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga’s insider transactions platform.

CalciMedica

• The Trade: CalciMedica, Inc. (NASDAQ:CALC) Chief Business Officer Eric W Roberts acquired a total of 4,000 shares an average price of $3.90. To acquire these shares, it cost around $15,600.
• What’s Happening: On March 28, CalciMedica posted a fourth-quarter loss of 23 cents per share.
• What CalciMedica Does: CalciMedica Inc is a clinical-stage biopharmaceutical company focused on developing therapies for life-threatening inflammatory diseases with high unmet need.

Tecogen

• The Trade: Tecogen Inc. (OTC:TGEN) Director John Hatsopoulos acquired a total of 30,000 shares at at an average price of $0.70. To acquire these shares, it cost around $7,000.
• What’s Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended Dec. 31, 2023.
• What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products. It operates in three business segments, namely Products, Services, and Energy Production.

Check This Out: Acuity Brands Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts

RENN Fund

• The Trade: RENN Fund, Inc. (NYSE:RCG) President and CEO Murray Stahl acquired a total of 57 shares at an average price of $1.56. The insider spent around $89 to buy those shares.
• What’s Happening: RENN Fund shares gained 5% over the past month.
• What RENN Fund Does: RENN Fund Inc is active in the financial services domain. It is a closed-end management investment company formed to provide return through capital appreciation and income by a long-term, value-oriented investment process that invests in a wide variety of financial instruments, including but not limited to, common stocks, fixed-income securities including convertible and non-convertible debt securities or loans, distressed debt, warrants, and preferred stock, exchange-traded funds and exchange-traded notes, and other instruments.

 

Don’t forget to check out our premarket coverage here

Financial giants have made a conspicuous bearish move on JD.com. Our analysis of options history for JD.com (NASDAQ:JD) revealed 11 unusual trades.

Delving into the details, we found 36% of traders were bullish, while 63% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $941,595, and 8 were calls, valued at $770,355.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $24.0 to $35.0 for JD.com over the recent three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for JD.com’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 JD.com’s whale trades within a strike price range from $24.0 to $35.0 in the last 30 days.

JD.com Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
JD	PUT	TRADE	BULLISH	06/21/24	$2.46	$2.43	$2.44	$27.50	$732.0K	13.4K	3.0K
JD	CALL	SWEEP	BEARISH	05/17/24	$0.59	$0.56	$0.57	$32.00	$205.8K	1.2K	3.6K
JD	CALL	SWEEP	BEARISH	05/17/24	$0.77	$0.75	$0.75	$31.00	$150.4K	16.1K	2.0K
JD	PUT	SWEEP	BEARISH	04/19/24	$3.45	$3.4	$3.4	$30.50	$130.2K	227	383
JD	CALL	SWEEP	BULLISH	05/17/24	$0.73	$0.72	$0.73	$31.00	$106.6K	16.1K	3.5K

About JD.com

JD.com is a leading e-commerce platform with its 2022 China GMV being similar to Pinduoduo (GMV not reported), on our estimate, but still lower than Alibaba. it offers a wide selection of authentic products with speedy and reliable delivery. The company has built its own nationwide fulfilment infrastructure and last-mile delivery network, staffed by its own employees, which supports both its online direct sales, its online marketplace and omnichannel businesses.

In light of the recent options history for JD.com, it’s now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of JD.com

• With a volume of 5,011,612, the price of JD is down -0.39% at $27.65.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 37 days.

Expert Opinions on JD.com

In the last month, 5 experts released ratings on this stock with an average target price of $33.4.

• An analyst from Susquehanna has decided to maintain their Neutral rating on JD.com, which currently sits at a price target of $28.
• Maintaining their stance, an analyst from HSBC continues to hold a Buy rating for JD.com, targeting a price of $39.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on JD.com with a target price of $28.
• Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for JD.com, targeting a price of $33.
• Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on JD.com with a target price of $39.

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 JD.com with Benzinga Pro for real-time alerts.

Despite facing intensified competition in the weight-loss drug market, particularly with the emergence of its own product Zepbound, Eli Lilly & Co‘s (NYSE:LLY) strategic positioning and technical resilience present a compelling investment opportunity.

Zepbound boasts impressive weight-loss efficacy in clinical trials. It also marks a significant milestone for Eli Lilly in the weight-loss drug market.

However, it’s imperative to note that competition remains stiff, with established players like Novo Nordisk A/S (NYSE:NVO), the maker of Ozempic, vying for market share.

Also Read: What Analysts Are Saying About Eli Lilly and Co Stock

Technical Setup – Moderately Bearish Sentiment

Eli Lilly’s stock has performed well over the past year, gaining 116.84%. So far in 2024, the stock has returned 29.45% to investors.

Looking ahead, the current technical trend shows a moderate bearish sentiment with slight selling pressure observed. Despite this, there are signals indicating potential opportunities:

• Moving Averages: The 50-day and 200-day simple moving averages (SMAs) present a bullish signal, suggesting potential reversal in the near term. However, the shorter-term moving averages (8-day and 20-day) exhibit a sell signal, indicating a short-term bearish sentiment.
• Exponential Moving Averages (EMA): Similar to SMAs, EMAs reflect mixed signals, with shorter-term averages signaling bearish sentiments and longer-term averages indicating bullishness.
• MACD & RSI: The MACD indicator suggests a bullish market sentiment, underscoring potential bullish momentum. However, the RSI indicates that the stock is overbought, warranting cautious optimism.
• Bollinger Bands: Both short-term and long-term Bollinger Bands present a buy signal, suggesting a favorable risk-reward profile for investors.

Eli Lilly’s resilience in the face of competition, alongside its innovative pipeline, presents an enticing investment opportunity. Despite short-term fluctuations, its solid fundamentals and strategic positioning make it a compelling choice for investors seeking long-term growth.

Analyst Reaction: The most recent analyst ratings for Eli Lilly stock, released by Cantor Fitzgerald, Truist Securities, and JP Morgan on April 1, March 22 and March 15, respectively, contribute to an average price target of $838.33. This indicates a potential upside of 10.55% for Eli Lilly and Co based on the assessments of these three analysts.

LLY Price Action: Eli Lilly stock was trading at $758 a share at the time of publication.

Read Next: Here’s How Much You Would Have Made Owning Eli Lilly and Co Stock In The Last 5 Years

Image: Shutterstock

The big three fund managers that jointly manage more than $23 trillion in assets are coming under the scrutiny of federal regulators over their large holdings in many U.S. banks.

BlackRock Inc (NYSE:BLK), State Street Corp (NYSE:STT) and Vanguard run funds that passively track the performances of equity indexes such as the S&P 500. To achieve this, they attempt to match the weightings of stocks held in these funds, to the index weightings.

But in doing so, BlackRock and Vanguard have each built holdings of more than 10% of the shares at several banks, and this is worrying the Federal Deposit Insurance Corp (FDIC), one of the government institutions responsible for banking supervision.

Also Read: Historic S&P 500 Rally In Q1 Flashes Bullish Signals For 2024: ‘Only The Ninth Time Since 1940’

Ten Percent Rule

At present, 10% ownership of shares is considered a threshold at which point an investor is considered to have a controlling interest in a bank. Investors must then seek regulatory permission to acquire shares beyond this threshold.

But fund managers are largely exempt from this requirement given their passive investment roles, although they can still use their share ownership to vote in shareholder meetings.

Some board members of the FDIC, are becoming concerned that the big fund managers could overlook their commitment to passive investment and exert greater influence over banks, given the size of their stakes.

Board member Jonathan McKernan told the Wall Street Journal of his concerns and is seeking a curb on BlackRock and Vanguard from acquiring further shares above the 10% threshold while the FDIC investigates.

“We need to be doing more to actually confirm that the Big Three are not leveraging their large stakes to exert influence over FDIC-regulated banks,” he told the WSJ.

BlackRock owns the iShares series of exchange-traded funds. Its flagship ETF that follows the S&P 500 is the iShares Core S&P 500 ETF (NYSE:IVV). Vanguard, meanwhile, manages the Vanguard S&P 500 ETF (NYSE:VOO), while State Street runs the SPDR series and the SPDR S&P 500 ETF Trust (NYSE:SPY) is its big index tracker.

‘Problem Of Twelve’

It’s not only regulators who have concerns over the influence of the big funds. In his 2023 book “The Problem of Twelve,” Harvard law professor John Coates asserts that roughly 12 people will have effectively seized power over the majority of U.S. public companies in the future.

He issued similar warnings about “a small number of institutions [that] acquire the means to exert outsized influence over the politics and economy of a nation.”

He says in the book: “The Big Four index funds of Vanguard, State Street, Fidelity, and BlackRock control more than 20% of the votes of S&P 500 companies — a concentration of power that’s unprecedented in America.”

In its iShares US Financials ETF (NYSE:IYF) BlackRock’s biggest banking holdings are in JPMorgan Chase & Co (NYSE:JPM), Bank of America Corp (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC). The Vanguard Financials ETF (NYSE:VFH) holds the same three stocks but with differing weightings.

Benzinga reached out to the FDIC for further details, but the agency said it was not commenting.

Now Read: FanDuel Success Drives Flutter To Seek Primary Listing On NYSE

Image by Shutterstock.

Deep-pocketed investors have adopted a bullish approach towards e.l.f. Beauty (NYSE:ELF), 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 ELF usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 9 extraordinary options activities for e.l.f. Beauty. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 3 are puts, totaling $134,640, and 6 are calls, amounting to $407,477.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $165.0 to $230.0 for e.l.f. Beauty over the recent 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 e.l.f. Beauty’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 e.l.f. Beauty’s whale activity within a strike price range from $165.0 to $230.0 in the last 30 days.

e.l.f. Beauty 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
ELF	CALL	SWEEP	BULLISH	08/16/24	$27.4	$27.3	$27.3	$185.00	$142.1K	1	55
ELF	CALL	SWEEP	BULLISH	08/16/24	$27.6	$27.3	$27.44	$185.00	$123.7K	1	105
ELF	PUT	TRADE	NEUTRAL	06/21/24	$13.4	$13.0	$13.2	$170.00	$66.0K	113	22
ELF	CALL	SWEEP	BULLISH	01/17/25	$23.0	$22.8	$23.0	$230.00	$46.0K	56	22
ELF	CALL	TRADE	BULLISH	09/20/24	$14.6	$14.4	$14.6	$230.00	$43.8K	138	31

About e.l.f. Beauty

e.l.f. Beauty Inc is a cosmetic company based in the United States. The company offers cosmetic accessories for women which include eyeliner, mascara, false eyelashes, lipstick, the foundation for the face, moisturizer, cleanser, and other tools through its stores and e-commerce channels. The products that the company sells are marketed under the e.l.f. Cosmetics, W3LL PEOPLE and Keys Soulcare brands. It carries out the sales within the US and internationally, out of which maximum revenue is generated from the US.

Following our analysis of the options activities associated with e.l.f. Beauty, we pivot to a closer look at the company’s own performance.

Current Position of e.l.f. Beauty

• Currently trading with a volume of 767,111, the ELF’s price is down by -3.53%, now at $185.2.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 50 days.

Professional Analyst Ratings for e.l.f. Beauty

4 market experts have recently issued ratings for this stock, with a consensus target price of $222.5.

• An analyst from DA Davidson downgraded its action to Buy with a price target of $220.
• An analyst from TD Cowen persists with their Market Perform rating on e.l.f. Beauty, maintaining a target price of $220.
• An analyst from B of A Securities persists with their Buy rating on e.l.f. Beauty, maintaining a target price of $230.
• Consistent in their evaluation, an analyst from DA Davidson keeps a Buy rating on e.l.f. Beauty with a target price of $220.

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 e.l.f. Beauty with Benzinga Pro for real-time alerts.

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.

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