Smart Money Is Betting Big In MRVL Options

Author: Benzinga Insights | September 18, 2024 10:48am

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 12 uncommon options trades for Marvell Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 66% bullish and 16%, bearish.

Out of all of the special options we uncovered, 10 are puts, for a total amount of $1,272,670, and 2 are calls, for a total amount of $67,210.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $55.0 to $92.5 for Marvell Tech over the recent three months.

Analyzing Volume & Open Interest

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 Marvell Tech'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 Marvell Tech's whale trades within a strike price range from $55.0 to $92.5 in 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	PUT	TRADE	BULLISH	11/01/24	$0.83	$0.57	$0.67	$60.00	$569.5K	5.0K	8.5K
MRVL	PUT	SWEEP	BULLISH	03/21/25	$16.35	$16.3	$16.35	$85.00	$201.1K	160	1
MRVL	PUT	SWEEP	BULLISH	12/20/24	$14.6	$14.5	$14.5	$85.00	$101.5K	129	111
MRVL	PUT	SWEEP	BULLISH	01/17/25	$21.15	$21.05	$21.05	$92.50	$84.2K	10	40
MRVL	PUT	SWEEP	BEARISH	11/15/24	$2.82	$2.76	$2.82	$67.50	$70.2K	1.1K	550

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.

Following our analysis of the options activities associated with Marvell Tech, we pivot to a closer look at the company's own performance.

Where Is Marvell Tech Standing Right Now?

• With a volume of 756,605, the price of MRVL is up 0.42% at $73.08.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 72 days.

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 $99.6.

• An analyst from Rosenblatt has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $100.
• An analyst from Rosenblatt has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $120.
• Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Marvell Tech with a target price of $95.
• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Marvell Tech, targeting a price of $98.
• Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Marvell Tech, targeting a price of $85.

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.

Posted In: MRVL