$MRVL put buyers score intraday

$MRVL put buyers score intraday


Bearish option positions opened this morning in Marvell Technology Inc (MRVL) are paying off already.

This morning on Aug. 24Market Rebellion’s Unusual Activity Service found that 3,000 Weekly $55 puts, expiring Aug. 25, were bought for $0.69 to $0.70 above the existing open interest of 1,,386 contracts with shares at $59.85.

Those puts have traded for as much as $1.25 this session, a 78.57% return, while the stock fell 3.46% in the same time frame, illustrating the kind of leverage that can be achieved quickly with options.

Long puts lock in the price where a stock can be sold no matter how far it might drop, gaining value in a selloff with the potential for significant leverage. The contracts can be purchased either as an outright bearish bet or a hedge on a long-stock position.

MRVL was last down 5.85% at $57.90.

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