A whale with a lot of money to spend has taken a noticeably bullish stance on Marvell Tech.
Looking at options history for Marvell Tech (NASDAQ:MRVL) we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 60% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $544,464 and 4, calls, for a total amount of $252,492.
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 $52.0 to $62.5 for Marvell Tech over the last 3 months.
Volume & Open Interest Development
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 $52.0 to $62.5 in the last 30 days.
Marvell Tech Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| MRVL | PUT | SWEEP | NEUTRAL | 05/27/22 | $58.00 | $188.1K | 1.1K | 403 |
| MRVL | PUT | SWEEP | NEUTRAL | 05/27/22 | $57.00 | $168.3K | 5 | 577 |
| MRVL | CALL | TRADE | BULLISH | 06/17/22 | $57.50 | $106.6K | 2.5K | 204 |
| MRVL | PUT | TRADE | BULLISH | 01/20/23 | $55.00 | $81.0K | 801 | 90 |
| MRVL | CALL | SWEEP | BULLISH | 06/17/22 | $62.50 | $55.2K | 1.0K | 200 |
Where Is Marvell Tech Standing Right Now?
- With a volume of 541,707, the price of MRVL is down -0.78% at $57.3.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 17 days.
What The Experts Say On Marvell Tech:
- Raymond James upgraded its action to Outperform with a price target of $80
- Barclays has decided to maintain their Overweight rating on Marvell Tech, which currently sits at a price target of $80.
- Deutsche Bank has decided to maintain their Buy rating on Marvell Tech, which currently sits at a price target of $80.
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.
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