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MRVL

Marvell Technology, Inc.Close $176.27EOD only

Max Pain

$167.50

Next expiry May 22, 2026

Expected Move

±$13.05

7.4% from close

Price Gap

-8.77

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.35

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects MRVL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

MRVL Flow Report

Analysis based on market close March 31, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

8 / 10

base 5; +2 for extreme net premium (+$81M) and P/C ratio (0.38); +1 for GEX/flow alignment; +0.5 for spot above max pain; -0.5 for high IV (58%) suggesting elevated risk

Watch next session: $105 Call OI and flow for April 2nd expiry; Any defensive put flow near $95-$100 to hedge recent gains

Flow Summary

Net premium: +$81.3M bullish

P/C volume ratio: 0.38 — extreme call-dominant

P/C OI ratio: 1.35 — put-leaning positioning

Aggressive, short-dated call buying is driving a massive net premium inflow, overwhelming a longer-term OI structure that is still put-heavy. This suggests a sharp, recent bullish positioning shift, likely chasing momentum above $100.

Notable Prints

MRVL 4/2 $105 Call

Vol: 25,048

OI: 2,620

Vol/OI: 9.6x

IV: 35.5%

Notional: ~$12.4M

Intent: Fresh, aggressive directional call buying

Dual read: Bought to open (bullish) or sold/covered (neutral-bearish)

Read-through: This is the single largest premium driver ($9.9M net). The 9.6x volume/OI ratio and low IV (35.5% vs. 58% avg) point to new long calls, betting on an immediate move above $105 in 2 days.

MRVL 4/2 $110 Call

Vol: 9,440

OI: 1,363

Vol/OI: 6.9x

IV: 46.7%

Notional: ~$10.7M

Intent: Fresh directional call buying (further OTM)

Dual read: Bought to open (bullish momentum) or sold (premium capture)

Read-through: Second-largest net premium contributor ($9.2M). High volume/OI and elevated but not extreme IV suggests new bullish bets, extending the momentum play beyond the $105 strike.

MRVL 4/24 $92 Put

Vol: 2,834

OI: 330

Vol/OI: 8.6x

IV: 62.3%

Notional: ~$260K

Intent: Hedge or speculative put purchase

Dual read: Bought for protection (bearish/defensive) or sold for income (bullish)

Read-through: Significant volume in a monthly put $7 below spot. The high IV (62.3%) and 8.6x volume/OI suggest buying, likely as a hedge against the aggressive call exposure or a bet on a pullback to the $92 max pain level.

MRVL 4/2 $115 Call

Vol: 3,106

OI: 439

Vol/OI: 7.1x

IV: 61.3%

Notional: ~$2.8M

Intent: Lottery-ticket call buying

Dual read: Bought (high-risk bullish) or sold (volatility sale)

Read-through: High IV (61.3%) and low absolute premium suggest this is a low-cost, high-risk bet on a major breakout. Consistent with a momentum-chasing regime but adds little gamma pressure.

MRVL 4/10 $100 Put

Vol: 1,340

OI: 153

Vol/OI: 8.8x

IV: 59.4%

Notional: ~$134K

Intent: Near-term hedge or speculative put

Dual read: Bought (defensive) or sold (income at a key level)

Read-through: Volume concentrated at-the-money for the 4/10 expiry. The high volume/OI and IV suggest buying activity, possibly as a short-term hedge for call positions or a bet on a rejection at the $100 psychological level.

Institutional Positioning

Call additions: Massive additions at $100, $105, $110 calls (Apr 2 expiry), with smaller flows to $115+.

Put additions: Minor defensive flows at $92-$100 puts (Apr 10/24), overshadowed by call buying.

GEX/DEX consistency: Yes — Positive GEX (+$25.9M) aligns with bullish call flow, reinforcing a pinning/mean-reverting regime near current spot.

OI clusters: Major PUT wall at $75 (25.5K OI). Major CALL walls at $100 (12.8K OI) and $105 (10.9K OI). Spot is between the $100 call and $75 put clusters.

Hedging evidence: Limited. The put flow at $92 and $100 is small in notional value compared to the call buying, suggesting hedges are light relative to directional exposure.

Max pain context: Spot ($99.05) is 7.7% above nearest max pain ($92). The falling MP trend ($92→$80) and spot above it indicate bullish pressure overcoming typical pinning forces.

Signal vs Noise

~High volume in $75 calls (net $5.6M premium) is likely noise—this is a deep ITM call ($24 intrinsic) and flow is often associated with financing/equity-linked transactions, not directional bets.

~The $60 call flow is also deep ITM and not a relevant directional signal.

~Some of the near-dated (4/2) OTM call volume could be part of multi-leg spreads (e.g., call diagonals) not visible in single-print data, but the sheer net premium argues for dominant directional bias.

Key Conclusions

🚀Extreme, short-dated call buying driving +$81M net premium. This is a high-conviction, momentum-chasing signal.

⚖️Flow (bullish) conflicts with OI (put-heavy). New money is aggressively betting against longer-term cautious positioning.

📍Positive GEX and spot above max pain support a near-term pinning/grind higher, with $100-$105 as a key battleground.

⚠️High IV (58%) and lottery-ticket buying in $115+ calls indicate frothy, high-risk sentiment. A failure at $105 could trigger rapid unwinding.

How to Use These Reports

This flow reflects the market close on March 31, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.