A Closer Look at Marvell Tech's Options Market Dynamics

Deep-pocketed investors have adopted a bearish approach towards Marvell Tech 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 26 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 42% leaning bullish and 46% bearish. Among these notable options, 12 are puts, totaling $543,430, and 14 are calls, amounting to $729,570.

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 $30.0 to $100.0 for Marvell Tech over the last 3 months.

Insights into Volume & Open Interest

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 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 activity within a strike price range from $30.0 to $100.0 in the last 30 days.

Marvell Tech 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Current Position of Marvell Tech

• With a trading volume of 8,268,128, the price of MRVL is down by -2.74%, reaching $70.3.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 83 days from now.

Professional Analyst Ratings for Marvell Tech

5 market experts have recently issued ratings for this stock, with a consensus target price of $120.0.

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* Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Marvell Tech with a target price of $100.
* In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $135.
* An analyst from Loop Capital upgraded its action to Buy with a price target of $110.
* Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Marvell Tech, targeting a price of $115.
* An analyst from Rosenblatt persists with their Buy rating on Marvell Tech, maintaining a target price of $140.

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