MRVL institutional options flow analysis — multi-leg block trades, dominant direction, and gamma analysis from the public options tape for June 4, 2026. Articles older than 60 days are public; a free account reads back to 30 days, Pro to 5, and AIme Premium reads today's unusual options trades with no delay.

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MRVL Unusual Options Activity — 2026-06-04

Institutional flow on 2026-06-04

Multi-leg block trades, dominant direction, and gamma analysis

$13.0M1 trade
Short Put

Trade Details

SELL$350 PUT2027-06-17$13.0MShort Put

Full Analysis

🤝 MRVL ≈$13M Deep-ITM Put Sale — A Desk Gets Paid to Own Marvell at an Effective ≈$217

Last updated: 2026-06-05

✅ RESOLVED — Next-Day OI Update (2026-06-05): The $350 put OI rose 0 → 1,006 (+1,006) — the deep-ITM put sale (willing-to-own) opened as predicted. Read confirmed.

📅 June 4, 2026 | 🔥 Unusual Activity Detected

🎯 The Quick Take

Someone just collected ≈$13 MILLION in premium to potentially own Marvell Technology at an effective entry of ≈$217 per share — that's ≈30% below today's $309 spot. This is a deep-in-the-money put sale: a desk received $133.30 per contract on a $350 strike put, signaling a "willing to own" stance on one of the hottest AI-custom-silicon names in the market right now. The kicker: open interest on this strike was ZERO before this trade — this is a confirmed fresh open with no ambiguity. Coming one day after a confirmed bullish diagonal roll on Marvell (yesterday, June 3), this is the second straight session of large-scale institutional money stacking a bullish/willing-to-own position on MRVL.

📊 Company Overview

Marvell Technology (MRVL) is a Santa Clara-based semiconductor company best known for custom AI ASICs (XPUs), data-center optical interconnect, and Ethernet switching — the "connective tissue" of AI infrastructure.

  • Market Cap: ≈$270 billion
  • Industry: Semiconductors — custom AI ASICs, optical networking, Ethernet switching
  • Core Franchise: Co-designs Amazon's Trainium and Inferentia AI accelerators, Microsoft's Maia, and Google's Axion custom CPUs; together with Broadcom, controls an estimated ≈95% of the custom AI ASIC co-design market, per Tech-Insider
  • Q1 FY2027 (reported May 27, 2026): Revenue $2.418 billion, +28% YoY (record high); Data Center revenue $1.833 billion, +27% YoY (76% of total); Non-GAAP EPS $0.80 (+6.7% beat), per the official press release
  • FY2027 revenue guide: ≈$11.5 billion (+40% YoY); FY2028 target raised to ≈$16.5 billion, per TIKR
  • YTD 2026: Up ≈130% ahead of May earnings; stock trading ≈$309-316 as of June 3-4, near its 52-week high of $333.50
  • The headline: On June 2, 2026, Nvidia CEO Jensen Huang publicly called Marvell "the next trillion-dollar company" at Computex — and the stock went to record highs

Real talk: Marvell is not a speculative story — it has signed contracts, a $2 billion Nvidia equity investment, and multi-year supply agreements with AWS. The question is whether the current $270B market cap has already priced in the next three years of compounding. The desk that sold this put is saying: we'd be comfortable owning it even 30% lower.

💰 The Option Flow Breakdown

📊 The Tape — June 4, 2026 @ 11:35:15

TimeBuy/SellCall/PutExpirationPremiumStrikeVolumeOISizeSpotOption PriceOption Symbol
11:35:15SELLPUT2027-06-17≈$13M$3501,00001,000$309.33$133.30MRVL20270617P350

Flow-type tag: 🤝 BLOCK CROSS — The raw feed initially showed two identical 1,000-contract prints at this strike. However, the OPRA tape carried a cancel on one of them (condition codes 40–44 = cancellation family). Only ONE genuine 1,000-contract print is real. Premium is ≈$13M, not $26M. This is a broker-facilitated block cross: a desk and a known counterparty agreed on price off the open book. The credit was collected, not paid.

Order type: STO (Short To Open) — MEDIUM confidence. OI on this strike was 0 before this trade, which means the print cannot be a close — there was nothing to close. This is a confirmed fresh open (STO). The MEDIUM (not HIGH) classification reflects that we cannot rule out a pre-lookback legacy position, but OI = 0 is as strong an opening signal as the tape provides.

⏳ OI Double-Check — Come Back Tomorrow

The OPRA open interest snapshot for June 5, 2026 (pre-market ≈06:30 ET) is the definitive confirmation.

Since OI on the MRVL Jun-17-2027 $350 Put was 0 before today's trade, the math is clean: if OI rises by ≈1,000 contracts, this is a confirmed fresh STO. A close is essentially impossible (you can't close a position that didn't exist). Predicted OI tomorrow morning: ≈1,000 contracts. This is the rare case where the open is already largely confirmed by the zero-OI baseline — but the OI snapshot is still the authoritative record. Check back then to see it locked in.

🤓 What This Actually Means — Plain English

Let's decode this trade step by step, because this is NOT a typical bearish-put or protective-hedge kind of move.

What does it mean to SELL a put?

When you sell a put option, you are taking on the obligation to buy 100 shares of stock at the strike price if the buyer exercises the option. In exchange for that obligation, you collect the premium upfront — in this case, $133.30 per contract × 1,000 contracts × 100 shares = ≈$13.33 million in cash collected right now.

Why is this a BULLISH / "willing-to-own" stance?

The strike is $350, but MRVL is trading at $309.33. That means the put is already $40.67 in-the-money — the buyer could exercise it today and force a sale at $350 when the market price is only $309. By collecting $133.30 in premium, the seller's effective cost basis if assigned is $350 − $133.30 = $216.70. That's ≈30% below today's spot price.

Let's put that in plain English: this desk is saying "I'll happily own Marvell at ≈$217 — I think the stock is worth more than that even in a bad scenario." They're getting paid $13M today for the privilege of potentially buying MRVL at a price the stock hasn't traded at in roughly a year.

The key numbers:

  • 💰 Credit collected: ≈$13.33M (cash in the door immediately)
  • 🎯 Effective entry if assigned: ≈$216.70 (≈30% below $309 spot)
  • 📅 Expiration: June 17, 2027 — 378 days away
  • ⚠️ Maximum loss: ≈$21.67M (if MRVL goes to $0; assigned at $350, basis ≈$217, theoretical loss = $21,670 per contract × 1,000 = ≈$21.67M — wildly unlikely, but that's the math)
  • 📈 Profit if MRVL stays above $350 at expiry: keep the entire ≈$13.33M (the put expires worthless)
  • 📈 Breakeven at expiry: $350 − $133.30 = $216.70 (MRVL would have to trade 30% below today and stay there for a full year to result in any loss)

STO = CREDIT. This desk COLLECTED money, not paid it. In the article headline you sometimes see option-flow called a "bet" or a "buy" — this is the opposite. They received $13M in their account. Their max risk is only realized if MRVL craters below ≈$217 by June 2027 and stays there. Given Jensen Huang just declared it the "next trillion-dollar company" two days ago, that outcome would require a catastrophic collapse of the entire AI-custom-silicon thesis.

Why not just buy stock?

Owning 100,000 shares of MRVL at $309 costs ≈$30.9M outright. This trade collects $13.33M now and only requires purchasing the stock (at an effective ≈$217 basis) if MRVL is below $350 at expiry. Capital efficiency: the desk keeps the $13M in other uses for a year, while maintaining a bullish economic exposure if the stock holds. If MRVL runs above $350, they keep the premium and have zero stock obligations.

The pattern that's building:

Yesterday (June 3, 2026), the tape showed a bullish diagonal call roll on MRVL — a desk rolled up and out on calls, confirmed by next-day OI as a new opening. Today, a separate ≈$13M deep-ITM put sale at an effective ≈$217 basis. Two consecutive sessions. Two structurally distinct instruments. Both point in the same direction: bullish conviction on Marvell at current levels or lower.

📈 Technical Setup / Chart Check-Up

YTD Performance

MRVL YTD

MRVL has been one of the most explosive large-cap names of 2026 — up ≈130% year-to-date heading into the May earnings print, then extending further after the record Q1 beat. The stock hit an intraday high of $333.50 on June 2 following Jensen Huang's Computex endorsement, and is consolidating near ≈$309-316 as of June 4. That Computex spike added as much as 25% in a single session before pulling back — the kind of vertical move that creates entry anxiety for retail traders. Today's put sale at an effective $217 basis is the institutional answer to that anxiety: "if the stock gives back all of Computex and more, we still want to own it at $217."

Gamma-Based Support & Resistance

Gamma S/R

Current Price: ≈$315.89 (per GEX snapshot)

The gamma exposure map is unusually clean for a high-IV semiconductor:

🟠 Call Gamma Resistance (Orange Bars — Overhead Sellers):

  • $320 — Strong resistance, 8.81B total GEX, net GEX +7.96B — the dominant near-term ceiling. With call GEX at 8.39B vs put GEX at only 0.43B, this is one of the most call-skewed levels on the entire board. Market makers will sell MRVL heavily into any rally attempt toward $320. Clearing $320 requires sustained buying pressure against this wall.
  • $330 — Moderate resistance, 1.19B total GEX, net GEX +1.13B call-dominant. Secondary ceiling above $320.
  • $340 — Moderate resistance, 1.32B total GEX, net GEX +1.26B call-dominant. The third wall, roughly at the 52-week high zone.
  • $350 — Call GEX 1.30B (our STO strike), net GEX +1.24B — this strike now also has the newly-printed 1,000 short puts adding put-side gamma.

🔵 Put Gamma Support (Blue Bars — Downside Floors):

  • $310 — Moderate support, 3.36B total GEX, net GEX +1.53B — the first significant floor just below spot. MRVL's trade was at $309.33; this level is essentially current price. Market makers provide a cushion here.
  • $300 — Strong support, 6.17B total GEX, net GEX +1.59B — the primary downside anchor. ≈5% below spot. If MRVL tests $300, expect aggressive market-maker buying. This is the line-in-the-sand floor.
  • $290 — Moderate support, 2.97B total GEX, net GEX +0.64B — secondary floor if $300 gives way.
  • $280 — Moderate support, 2.56B total GEX, net GEX +1.05B — the next cushion below $290.

What this means for you:

MRVL is currently sandwiched in a ≈$15-range between the $310 moderate-support floor and the $320 Strong resistance ceiling. Near-term: the stock is range-bound in this gamma pinch. For the put seller, this is actually favorable — a range-bound stock means the short put loses value as time decays, with no dramatic move in either direction needed. The effective ≈$217 entry sits far below even the deepest gamma floor, reinforcing the "I'd happily own it down here" framing. The $300 Strong support (6.17B GEX) is the near-term risk buffer — a close below $300 would be the first technical warning sign for the put seller's thesis.

Implied Move Analysis

Implied Move

The options market is pricing in significant volatility on MRVL — consistent with a stock that just moved 25%+ in a day on a CEO endorsement:

TimeframeExpiryDaysImplied MoveUpperLower
Weekly2026-06-051±9.04% / ±$28.57$344.59$287.45
Monthly OPEX2026-07-1743±35.64% / ±$112.63$428.65$203.39
Quarterly2026-09-18106±56.46% / ±$178.42$494.44$137.60
Annual LEAP2027-03-19288±85.68% / ±$270.87$587.00$45.26

The critical data point for today's trade:

The monthly OPEX lower bound (July 17, 2026) is $203.39 — the market is implying a 1-standard-deviation downside range that goes below $217 at that horizon. However, the put seller's expiry is June 17, 2027, which is even longer. Over the annual LEAP horizon, the lower implied range reaches $45.26 — but that's a full 1-standard-deviation move, and the ≈$217 effective entry is the breakeven, not the point of maximum pain. The put seller is essentially saying: the risk of MRVL trading below ≈$217 for a full year is a bet they're comfortable collecting ≈$13M to absorb.

For near-term MRVL traders: the weekly implied move of ±$28.57 (±9%) is enormous for a 1-day window. The upper/lower ranges are $344.59 and $287.45, respectively — the stock can move nearly $57 in a single week and still be within expected range. This is a high-IV, high-velocity name.

🎪 Catalysts

✅ Already Happened — In the Books

🚀 Upcoming — Inside the Put's 12-Month Window

  • Q2 FY2027 Earnings: August 20, 2026 (after close) — Per Investing.com, this is the dominant upcoming catalyst. Guidance: revenue $2.7B ±5% (≈35% YoY at midpoint); Non-GAAP EPS $0.93 ±$0.05, per the Marvell press release. Key watch items: XPU ramp trajectory, 1.6T optics adoption, and first disclosure of FY27 ≈$11B AI ASIC revenue progression.

  • Trainium3 Ramp (2026): Trainium3 is slated for volume production in 2026, with Marvell's content share as the key swing factor, per TS2. More Trainium3 share = higher FY27 revenue.

  • NVLink Fusion Product Milestones: Ongoing productization from the March 2026 Nvidia partnership, with follow-through disclosures expected through 2H 2026, per StockTitan.

  • Q3 FY2027 Earnings (≈Late November/Early December 2026): The third quarterly print inside the put's expiry window — the mid-cycle test of whether AI bookings continue to compound.

  • FY2028 $16.5B Revenue Target Execution: The multi-year thesis the put seller is most exposed to — if FY28 guidance continues to be raised (or even just maintained), the ≈$217 effective-entry put basis looks increasingly conservative.

💡 Trading Ideas

🛡️ Conservative — "Wait for OI Confirmation, Then Consider Stock on the $300 Floor"

For entry-level options traders and investors with $5K–$25K

Real talk: before doing anything, check the OI snapshot pre-market June 5, 2026 at ≈06:30 ET. If OI on MRVL20270617P350 rises from 0 to ≈1,000, the STO fresh-open is confirmed and this article's entire thesis is on solid ground.

Post-confirmation path:

  • 📅 Consider long stock on a pullback to the $300 Strong gamma support (6.17B total GEX) — that's the institutional floor where market makers become aggressive buyers
  • 🛡️ Risk level: ≈$9 from current spot ($309) to the $300 floor; below $300 with conviction = stop
  • 🎯 Participation target: $320 (first call-gamma resistance, 8.81B GEX) = near-term ≈3.5% upside; $333 area = prior 52-week high

Why this works: You get exposure to the same bullish MRVL thesis at a defined risk level anchored to real gamma support, without selling uncovered puts or paying premium. If the $300 floor holds, you have a clean entry with market-maker reinforcement. The catalyst (Aug 20 earnings) gives you a natural exit.

⚖️ Balanced — "The Bullish Put Spread for Defined Downside"

For swing traders with $10K–$50K who want to replicate the put-sale thesis with capped risk

Selling a naked $350 put requires substantial margin and exposes you to the full downside of the stock. A bull put spread captures a similar bullish view with defined maximum loss:

Structure (illustrative — verify live prices):

  • 📉 Sell MRVL $310 Put, 2026-09-18 expiration
  • 📈 Buy MRVL $290 Put, 2026-09-18 expiration (buys your floor)
  • 💰 Net credit: ≈$5–$8 per spread (estimate; verify live)
  • 🎯 Max profit: the full net credit — kept if MRVL is above $310 at September expiry
  • ⚠️ Max loss: ≈$12–$15 per spread (the $20 strike-width minus the credit received)

Why this works: The $310 support (Moderate, 3.36B GEX) and $300 Strong support (6.17B GEX) are your two backstops. If MRVL holds above $310 through September, you keep the full credit. The spread structure means your maximum loss is defined and you never face a margin call or assignment scenario you can't manage.

Key date: August 20, 2026 Q2 earnings is the biggest event inside this window. A beat-and-raise (guidance: $2.7B revenue, ≈35% YoY) would likely push MRVL above the current $320 gamma wall and justify an early close at a profit.

🚀 Aggressive — "The Near-Term Directional Play — $320 Breakout Target"

For experienced traders with defined risk tolerance

The gamma map shows MRVL is pinned just below the massive $320 call-gamma resistance wall (8.81B total GEX, near the single largest level on the board). If MRVL clears $320 on a catalyst, the gamma dynamic flips — market makers start buying as dealers get long delta — and the move can accelerate fast.

Structure (illustrative — verify live prices):

  • 🚀 Buy MRVL $320 Call, 2026-07-17 expiration (monthly OPEX)
  • 💰 Cost: ≈$10–$15 per contract (estimate; verify live)
  • 🎯 Target: MRVL to $340 by July expiry → option worth ≈$20+
  • ⚠️ Max loss: the full premium paid if MRVL is below $320 at July expiry

Why this works: The put seller's ≈$217 effective-entry confidence, combined with Jensen Huang's endorsement and August 20 earnings approaching, creates a real narrative catalyst to push through $320. The implied-move upper range for July 17 is $428.65 — the options market is already pricing a move that size as within a 1-standard-deviation event. A Q2-earnings preview or Trainium3 supply-chain update in July could be the unlock.

YOLO version: Buy the $330 Call or $340 Call for July expiry — lower cost, higher leverage, lower probability. Keep it to a size you can afford to lose entirely.

🎲 Price Targets & Scenarios Through June 2027

Using gamma levels, implied-move data, and the catalyst calendar:

📈 Bull Case (40% probability by June 2027)

Target: $400–$450+

How MRVL gets there: Q2 FY27 earnings (Aug 20) beats the $2.7B guide and raises FY27 to ≈$12B+. Trainium3 content-share disclosures surprise to the upside. NVLink Fusion generates its first material revenue commentary. FY28 target is reiterated or raised. The ≈$11B AI ASIC revenue path becomes credible by mid-2027, and the stock begins pricing toward the $16.5B FY28 target at a more modest multiple. Per the implied-move map, the quarterly upper range is $494 and the annual upper is $587.

Short-put P&L in bull case: MRVL above $350 at June 2027 expiry = put expires worthless = full ≈$13.33M credit kept. The desk wins on the maximum profit scenario.

🎯 Base Case (45% probability)

Target: $280–$350 range by June 2027

MRVL executes at the guidance midpoints — no major upside surprise, no major miss. Stock oscillates between the $300 Strong gamma support and the $350 strike area, with AI-capex sentiment as the dominant driver. The put seller gets the ≈$13.33M credit and either watches the option decay toward zero or manages a modest roll if the stock tests $310-300 support during a broader risk-off moment.

Short-put P&L in base case: MRVL above $217 at expiry = profitable (credit exceeds any intrinsic loss). The put seller keeps the full premium if MRVL stays above $350, or has a profitable assignment basis down to ≈$217.

📉 Bear Case (15% probability)

Target: below $217 — net loss for the put seller

Alchip wins Trainium3/4 sockets from AWS, materially eroding Marvell's co-design revenue. AI capex enters a cyclical pause. FY27 guidance is cut at Q2. The stock re-rates from its ≈99x P/E toward ≈50-60x on lower growth. MRVL revisits the $200 level. In this scenario, the put seller would be assigned stock at $350, with an effective ≈$217 basis — a painful mark-to-market but a survivable entry for a long-term holder. Only below ≈$217 does the trade result in a net economic loss.

⚠️ Risks & Honest Limits

What the tape CANNOT tell us:

  • Who is the seller: We see the print — a 1,000-contract SELL of the $350 put at $133.30, cond 127 (SINGLE_LEG_CROSS_NON_ISO), cross structure. We do NOT know the identity of the seller, whether they hold hedging stock or other option positions, or what their full book looks like. What looks like a bullish naked put sale could be one leg of a larger institutional position we can't see.
  • Naked vs. cash-secured: The tape doesn't tell us whether the put seller has $35M in cash allocated to cover potential assignment or is relying on portfolio margin. Retail investors should NEVER sell naked puts without understanding the full margin requirements and downside exposure. A broker can issue a margin call before expiry if MRVL moves sharply lower.
  • The cancel complexity: The raw feed showed two 1,000-lot prints; one was cancelled on the OPRA tape. The verified single print at ≈$13M is the ground truth. Had we taken the raw feed at face value, the premium would have been reported as $26M — a meaningful error that would have overstated the trade's significance.

Structural risk factors:

  • 🏭 Customer concentration: ≈76% of Marvell's data-center revenue ties to a single customer widely understood to be AWS, per TS2. A spending slowdown or supplier diversification at AWS would hit Marvell's revenue immediately and hard.
  • 🤖 Alchip/competitive content erosion: Morgan Stanley and Melius Research have flagged the risk of Alchip contesting Trainium3/4 sockets, per TS2. If Marvell loses content share on the next Trainium generation, the revenue trajectory toward ≈$11.5B FY27 becomes impaired.
  • 💹 Valuation/sentiment risk: At ≈99x P/E with published analyst consensus targets averaging ≈$233 (well below spot at ≈$309), per MarketBeat, the stock has run well ahead of modeled fundamentals. Jensen Huang's endorsement moved the stock more than any model could justify in a single session. That same sentiment can reverse sharply on any negative signal.
  • 📉 Assignment risk — deep ITM puts are real obligations: If MRVL falls to $200 over the next year, the put seller is assigned 100,000 shares at $350 — a $35M obligation, offset by the ≈$13.33M credit, for a net cost of ≈$21.67M to own shares worth ≈$20M. The effective loss is real. "Willing to own" doesn't eliminate ownership-event risk — it just prices it at a level the seller deemed acceptable.
  • ⚡ AI-capex cyclicality: The entire MRVL thesis is levered to hyperscaler AI spending. A broad-based capex pause — driven by recession fears, compute over-supply, or a shift to in-house silicon — would compress both revenue growth and the multiple simultaneously.

🎯 The Bottom Line

Here's the deal: A desk just collected ≈$13 million to potentially own Marvell Technology at ≈$217 per share — a price roughly 30% below today's spot, ≈50% below the Computex high, and a level that would require the total collapse of the AI-custom-silicon buildout to result in a loss. This is not a bearish trade. This is not a hedge. This is a "pay me to be bullish" structure: the seller collects maximum profit if MRVL stays above $350, and picks up stock at a generational discount if it doesn't.

What this tells us:

  • 🐋 This desk has enough conviction in Marvell's multi-year AI-ASIC franchise — signed AWS contracts, Nvidia investment, Jensen Huang's trillion-dollar thesis — to absorb ≈$217 entry risk on 100,000 shares
  • 💰 At ≈$133 per contract (≈43% of the $309 spot price), the put premium reflects the enormous IV on MRVL right now — the seller is monetizing that elevated volatility by collecting a rich premium
  • 📅 The Jun-17-2027 expiry brackets Q2 FY27 earnings (Aug 20, 2026), Q3 FY27 earnings (≈Nov/Dec 2026), and much of the Trainium3 ramp — the seller is comfortable holding through all of them
  • 🔁 Combined with yesterday's confirmed bullish diagonal roll, this is the second consecutive session of large-scale bullish institutional positioning on MRVL — a pattern worth paying attention to

If you own MRVL:

  • ✅ This STO put flow is directional confirmation — not a reason to add aggressively at current levels, but affirmation that an institutional desk sees risk/reward as favorable even 30% lower
  • 🎯 The $300 Strong gamma support (6.17B GEX) is the near-term line-in-the-sand; the $320 Strong resistance (8.81B GEX) is the near-term upside trigger

If you're watching from the sidelines:

  • 📅 August 20, 2026 — Q2 FY27 earnings is the first major catalyst inside this put's window; guide is $2.7B ±5%, ≈35% YoY
  • 🎯 A pullback to the $300 gamma floor with a hold is the cleanest long entry for swing traders
  • 🔑 The ≈$217 effective entry of today's put sale is your "institutional valuation floor" — it signals where a desk is willing to absorb assignment risk; stocks rarely stay well below a well-capitalized institution's willing-to-own level for long

Mark your calendar:

  • 📅 June 5, 2026 pre-market (≈06:30 ET) — OI snapshot for MRVL20270617P350; predicted ≈1,000 contracts confirming fresh STO
  • 📅 August 20, 2026 — Q2 FY2027 earnings (after close)
  • 📅 ≈Late November/Early December 2026 — Q3 FY2027 earnings
  • 📅 June 17, 2027 — Put expiration; breakeven ≈$216.70

Final verdict: The pattern is clear — two sessions, two structures, both bullish on Marvell. A desk with serious capital to deploy is positioning for MRVL to execute on the AI-ASIC and optical-interconnect thesis over the next year. The effective ≈$217 entry gives you a real sense of where institutional risk tolerance sits. The trade is elegant: collect $13M now, potentially own one of the most AI-levered semiconductor franchises on the planet at a 30% discount if it dips. Come back June 5 pre-market to confirm the OI locks in at ≈1,000.

Disclaimer: Options trading involves substantial risk and is not suitable for all investors. Selling put options — especially deep in-the-money puts — can result in substantial losses, including the obligation to purchase stock at a price significantly above market value, plus the full downside below the effective entry (≈$217 in this case). Never sell uncovered/naked puts without fully understanding margin requirements, assignment risk, and maximum loss scenarios. The ≈$13.33M credit collected sets the breakeven at ≈$216.70, but losses accumulate below that level all the way to zero. This analysis is for educational purposes only and does not constitute financial advice. The STO classification is MEDIUM confidence based on a zero-OI baseline; the definitive confirmation is the June 5, 2026 OPRA OI snapshot. Past unusual options activity does not guarantee future trading outcomes. Always consult a licensed financial advisor before trading options.

Last updated: 2026-06-04

About Marvell Technology: Marvell Technology designs custom AI ASICs (XPUs), optical-interconnect components, Ethernet switches, and data-center silicon for hyperscalers. Market cap ≈$270B. Sector: Semiconductors. Data center revenue was $1.833B (+27% YoY) in Q1 FY2027, representing 76% of total revenue, with FY2028 revenue targeted at ≈$16.5B on the back of Amazon Trainium, Microsoft Maia, and Nvidia NVLink Fusion partnerships.

The Options Desk tracks the move options price into every US earnings report the week of Sep 14, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.