Trending | MRVL Surges 7% on Wednesday, Some Call options Soar 123%

On December 3, Eastern Time, Marvell Tech options saw a total of 361327 contracts traded, with calls accounting for 62% and puts making up 37%.

Marvell Tech has 1362263 contracts outstanding, with calls accounting for 45% and puts making up 54%.

The top volume gainer was the 105 dollars Call option expiring on December 5, 2025, with 16433 contracts traded.

On the news front, Based on recent key news:

1. Dec 3, Marvell Technology reported third-quarter earnings that exceeded Wall Street expectations, with EPS of $0.76 and revenue of $2.08 billion. This led to a 7.4% increase in premarket trading. The positive earnings report boosted investor confidence. Source: Reuters

2. Dec 3, Marvell announced its acquisition of AI startup Celestial AI for $3.25 billion. The acquisition is expected to significantly enhance Marvell's custom chip business, contributing to revenue growth in the coming years. This news contributed to an 8.73% rise in premarket trading. Source: Bloomberg

3. Dec 3, Analysts raised their price targets for Marvell following the earnings report and acquisition news. Rosenblatt increased its target to $120, and the stock received multiple 'buy' ratings. This positive analyst sentiment further supported the stock's upward movement. Source: MarketWatchStrong earnings and strategic acquisition drive gains.

Please note: The chart below does not include options expiring within five days.