Check Out What Whales Are Doing With MRVL

Author: Benzinga Insights | April 19, 2024 04:16pm

Whales with a lot of money to spend have taken a noticeably bearish stance on Marvell Tech.

Looking at options history for Marvell Tech (NASDAQ:MRVL) we detected 34 trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 24 are puts, for a total amount of $1,643,952 and 10, calls, for a total amount of $1,100,997.

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 $50.0 and $90.0 for Marvell Tech, spanning the last three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Marvell Tech's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Marvell Tech's substantial trades, within a strike price spectrum from $50.0 to $90.0 over the preceding 30 days.

Marvell Tech Option Volume And Open Interest Over 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	PUT	TRADE	BULLISH	03/21/25	$6.45	$6.35	$6.35	$55.00	$635.0K	42	274
MRVL	CALL	SWEEP	BULLISH	09/20/24	$3.85	$3.8	$3.84	$75.00	$317.1K	1.0K	1.7K
MRVL	CALL	TRADE	BULLISH	05/17/24	$2.25	$2.22	$2.25	$65.00	$281.2K	2.0K	1.7K
MRVL	PUT	TRADE	NEUTRAL	01/17/25	$5.2	$5.1	$5.15	$55.00	$154.5K	2.1K	300
MRVL	CALL	SWEEP	BEARISH	09/20/24	$1.45	$1.43	$1.44	$90.00	$118.5K	1.3K	1.7K

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.

Marvell Tech's Current Market Status

• With a trading volume of 14,439,124, the price of MRVL is down by -4.77%, reaching $62.13.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 34 days from now.

What Analysts Are Saying About Marvell Tech

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $89.8.

• An analyst from Evercore ISI Group downgraded its action to Outperform with a price target of $88.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $95.
• Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $85.
• Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Marvell Tech with a target price of $95.
• Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Marvell Tech with a target price of $86.

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 Marvell Tech, Benzinga Pro gives you real-time options trades alerts.

Posted In: MRVL