Marvell calls lead puts more than 10:1 with shares at 12-year highs
Marvell calls lead puts more than 10:1 with shares at 12-year highs. The stock up $1 to $25 and biggest option trades in the name today are part of a spread: 4.3K May 3rd 24.5 calls sold at $1.21 to buy 3.7K May 3rd 26.5 calls for 39c. The ratio spread appears to roll long calls to OTM from ITM, while reducing position size. Nevertheless, the adjustment expresses a bullish short-term view for shares. 9.4K May 3rd 24.5 calls and 8.9K May 3rd 26.5 calls trade total today. May 25, may 28, and May 3rd 24 calls are also among the most actives in Marvell. Total volume is 62K calls and 5.8K puts. 30-day implied volatility down .5% to 36, with earnings not due again until late-May.