SPY437.98-8.77 -1.96%
DIA342.35-4.72 -1.36%
IXIC13,768.92-385.10 -2.72%

Marvell Technology Whale Trades For December 29

Someone with a lot of money to spend has taken a bearish stance on Marvell Technology (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.

Benzinga · 12/29/2021 13:18

Someone with a lot of money to spend has taken a bearish stance on Marvell Technology (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 11 uncommon options trades for Marvell Technology.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $963,165, and 8 are calls, for a total amount of $351,380.

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 $50.0 to $92.5 for Marvell Technology over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Marvell Technology options trades today is 2629.67 with a total volume of 1,771.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Marvell Technology's big money trades within a strike price range of $50.0 to $92.5 over the last 30 days.

Marvell Technology Option Volume And Open Interest Over Last 30 Days

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 BEARISH 06/17/22 $90.00 $860.0K 90 800
MRVL CALL SWEEP NEUTRAL 01/21/22 $65.00 $117.8K 4.4K 50
MRVL PUT SWEEP BULLISH 02/18/22 $92.50 $67.6K 97 97
MRVL CALL TRADE BULLISH 01/20/23 $90.00 $42.7K 894 35
MRVL CALL TRADE BULLISH 01/21/22 $88.00 $35.5K 416 207

Where Is Marvell Technology Standing Right Now?

  • With a volume of 1,696,646, the price of MRVL is up 0.35% at $88.3.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 63 days.

What The Experts Say On Marvell Technology:

  • Stifel has decided to maintain their Buy rating on Marvell Technology, which currently sits at a price target of $100.
  • Oppenheimer has decided to maintain their Outperform rating on Marvell Technology, which currently sits at a price target of $110.
  • Credit Suisse has decided to maintain their Outperform rating on Marvell Technology, which currently sits at a price target of $105.
  • Citigroup has decided to maintain their Buy rating on Marvell Technology, which currently sits at a price target of $97.
  • Rosenblatt has decided to maintain their Buy rating on Marvell Technology, which currently sits at a price target of $120.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.