Marvell Technology Inc's options market saw elevated activity on Friday, with traders placing bullish bets on the chipmaker despite its 10.12% weekly decline to $217.58. Total unusual options volume reached 456,097 contracts by midday, with call volume of 267,448 contracts outpacing put volume of 188,649 contracts.
The surge in activity comes as Marvell's stock remains up 213% over the past year, trading above its fair value estimate of $185.42—a level approximately 14.6% below the current price. Analysts maintain a bullish outlook, with a mean price target of $273.18 based on 41 analysts'
