Marvell Tech Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant investor has taken a bearish stance on Marvell Tech (NASDAQ:MRVL), with 83% of recent trades being bearish. The trades range from $30.0 to $75.0, with 8 puts totaling $662,226 and 4 calls totaling $158,712. The price of MRVL is currently down -1.69% at $53.67, and RSI indicators suggest the stock may be approaching oversold.
October 03, 2023 | 7:31 pm
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Marvell Tech has seen a significant amount of bearish trading activity, which could potentially drive the stock price down in the short term.
The bearish trading activity indicates that investors are expecting the price of Marvell Tech to decrease. This could potentially lead to a self-fulfilling prophecy, as other investors may follow suit and sell their shares, driving the price down.
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IMPORTANCE 80
RELEVANCE 100