A Closer Look at Marvell Tech's Options Market Dynamics

Author: Benzinga Insights | August 06, 2024 11:01am

Investors with a lot of money to spend have taken a bullish stance on Marvell Tech (NASDAQ:MRVL).

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 MRVL, 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 Marvell Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 75% bullish and 25%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $813,620, and 4 are calls, for a total amount of $204,711.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $57.5 to $60.0 for Marvell Tech over the last 3 months.

Insights into Volume & Open Interest

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 $57.5 to $60.0 over the preceding 30 days.

Marvell Tech Call and Put Volume: 30-Day Overview

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	SWEEP	BULLISH	09/20/24	$4.85	$4.8	$4.85	$57.50	$340.4K	6.7K	1.0K
MRVL	PUT	SWEEP	BULLISH	09/20/24	$5.05	$4.95	$4.95	$57.50	$206.9K	6.7K	1.4K
MRVL	PUT	SWEEP	BULLISH	09/20/24	$5.05	$4.95	$4.95	$57.50	$192.0K	6.7K	1.0K
MRVL	PUT	SWEEP	BULLISH	09/20/24	$4.85	$4.75	$4.75	$57.50	$74.1K	6.7K	21
MRVL	CALL	TRADE	BULLISH	09/20/24	$3.85	$3.8	$3.85	$60.00	$71.9K	2.0K	481

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

• Currently trading with a volume of 3,451,323, the MRVL's price is up by 0.06%, now at $57.71.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 23 days.

Professional Analyst Ratings for Marvell Tech

1 market experts have recently issued ratings for this stock, with a consensus target price of $95.0.

• An analyst from Keybanc has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $95.

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