Smart Money Is Betting Big In MRVL Options

Author: Benzinga Insights | April 16, 2024 10:16am

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 9 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 66% leaning bullish and 33% bearish. Among these notable options, 3 are puts, totaling $454,882, and 6 are calls, amounting to $349,990.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $60.0 and $85.0 for Marvell Tech, spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Marvell Tech's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Marvell Tech's significant trades, within a strike price range of $60.0 to $85.0, over the past month.

Marvell Tech 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MRVL	PUT	SWEEP	BULLISH	08/16/24	$18.2	$18.05	$18.05	$85.00	$357.4K	83	0
MRVL	CALL	TRADE	BEARISH	01/16/26	$21.1	$20.2	$20.2	$65.00	$101.0K	154	0
MRVL	CALL	SWEEP	BULLISH	06/21/24	$11.0	$10.9	$11.0	$60.00	$92.4K	2.5K	10
MRVL	PUT	SWEEP	BULLISH	04/19/24	$4.4	$4.15	$4.25	$72.00	$53.5K	3.4K	4
MRVL	CALL	TRADE	BEARISH	01/17/25	$13.05	$12.75	$12.79	$67.50	$51.1K	1.0K	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.

Where Is Marvell Tech Standing Right Now?

• Currently trading with a volume of 1,662,804, the MRVL's price is up by 0.77%, now at $68.4.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 37 days.

What Analysts Are Saying About Marvell Tech

In the last month, 5 experts released ratings on this stock with an average target price of $89.8.

• Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $95.
• Reflecting concerns, an analyst from Citigroup lowers its rating to Buy with a new price target of $91.
• An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $85.
• In a cautious move, an analyst from Evercore ISI Group downgraded its rating to Outperform, setting a price target of $88.
• An analyst from Keybanc persists with their Overweight rating on Marvell Tech, maintaining a target price of $90.

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.

Posted In: MRVL