Looking At Marvell Tech's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Recent unusual options activity in Marvell Tech (NASDAQ:MRVL) has been observed, with a bearish sentiment prevailing among high-rolling investors. Benzinga's options scanner identified 8 trades, showing a split sentiment with 37% bullish and 62% bearish. The focus is on a price band between $67.0 and $80.0. The most significant options trades include both calls and puts, with a bearish sentiment on calls and a single bearish put. Marvell Technology, a leading fabless chip designer, currently trades at $69.74, slightly down with a potential overbought RSI. The next earnings report is due in 13 days.
February 23, 2024 | 3:01 pm
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Marvell Tech observed unusual options activity with a bearish sentiment. The stock is slightly down at $69.74, with potential overbought RSI. Earnings report due in 13 days.
The bearish sentiment among high-rolling investors, combined with the current slight downturn in stock price and the approaching earnings report, suggests a potential short-term negative impact on MRVL's stock price. The unusual options activity, especially the bearish sentiment on calls and the significant put, indicates that investors are preparing for a downward movement.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100