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Options Market Statistics: Marvell's Stock Skyrockets on AI Hopes; Options Pop

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Options Newsman wrote a column · Dec 5, 2024 09:39
News Highlights
1. $Marvell Technology (MRVL.US)$ stock surged 23% in Wednesday's trading, with the most traded calls are contracts of $120 strike price that expire on Dec. 6. The total volume reaches 41,211 with the open interest of 4,387.
Marvell Technology's stock rise topped all Nasdaq 100 gainers Wednesday after the chipmaker posted a current-quarterly forecast that significantly exceeded Wall Street expectations.
Bank of America analysts in a report Wednesday maintained a "buy" rating and upped their price target to $125 from $108, which is at a roughly 6% premium to Marvel's ascent to about $118 a share Wednesday.
The chipmaker "has transformed into a data center silicon leader," the analysts said, with "growth opportunities across cloud data centers, 5G infrastructure, advanced autos, enterprise networking and security markets."
Options Market Statistics: Marvell's Stock Skyrockets on AI Hopes; Options Pop
Options Market Statistics: Marvell's Stock Skyrockets on AI Hopes; Options Pop
Unusual Stock Options Activity
There was a noteworthy activity in $Etsy Inc (ETSY.US)$, with $61 calls topping the highest volume to open interest ranking. The highest volume over open interest ratio reaches 138.3x with 26,141 contracts.
Options Market Statistics: Marvell's Stock Skyrockets on AI Hopes; Options Pop
Daily Active Index & Sector ETF Options
Options Market Statistics: Marvell's Stock Skyrockets on AI Hopes; Options Pop
Source: Barchart, Unusual Whales, The Guardian, Bloomberg, MarketWatch
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