Marvell Tech's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Marvell Tech (NASDAQ:MRVL) through significant options activity. Benzinga's options scanner highlighted 20 extraordinary options trades, with 45% being bearish. The stock is currently priced at $73.5, up 0.57%, but RSI indicators suggest it may be overbought. Analysts have set an average price target of $85.0.
May 17, 2024 | 4:46 pm
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Deep-pocketed investors have shown a bearish sentiment towards Marvell Tech (NASDAQ:MRVL) through significant options activity. The stock is currently priced at $73.5, up 0.57%, but RSI indicators suggest it may be overbought. Analysts have set an average price target of $85.0.
The significant bearish sentiment from deep-pocketed investors, as indicated by the options activity, suggests potential downward pressure on MRVL's stock price. The RSI indicator also hints at the stock being overbought, which could lead to a price correction. However, the average analyst price target of $85.0 provides some support.
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