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Looking At Marvell Tech's Recent Unusual Options Activity

Benzinga logo Benzinga 11/23/2022 Benzinga Insights

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

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Marvell Tech.

This isn't normal.

The overall sentiment of these big-money traders is split between 52% bullish and 47%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $2,471,190, and 10 are calls, for a total amount of $367,432.

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 $40.0 to $52.5 for Marvell Tech over the last 3 months.

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Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Marvell Tech options trades today is 2164.69 with a total volume of 8,215.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Marvell Tech's big money trades within a strike price range of $40.0 to $52.5 over the last 30 days.

Marvell Tech Option Volume And Open Interest Over Last 30 Days

Options Call Chart © Provided by Benzinga Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
MRVL PUT TRADE NEUTRAL 01/20/23 $45.00 $967.5K 2.5K 2.2K
MRVL PUT TRADE BULLISH 06/16/23 $45.00 $750.0K 1.3K 1.0K
MRVL PUT TRADE BULLISH 06/16/23 $45.00 $377.5K 1.3K 1.5K
MRVL PUT TRADE BEARISH 09/15/23 $45.00 $133.5K 32 158
MRVL PUT SWEEP BEARISH 02/17/23 $45.00 $108.7K 2.8K 356

Where Is Marvell Tech Standing Right Now?

With a volume of 3,122,899, the price of MRVL is up 0.85% at $43.28. RSI indicators hint that the underlying stock may be approaching overbought. Next earnings are expected to be released in 8 days.

What The Experts Say On Marvell Tech:

Credit Suisse downgraded its action to Outperform with a price target of $56

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.


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