MRVL's 88% Call Flow Faces $166.32 Resistance Test

By Nathan Brooks

Marvell Technology, Inc. (MRVL) rose 5.7% Friday to $141.20, while 88% of $28.2 million in Nov. 6 options premium went to calls, according to GTA Terminal. The shares remained 44% below their Oct. 28 close, leaving the bounce inside the chart’s broader downtrend.

The TradingView analysis, posted by GTA-TERMINAL, put the skew plainly: “88% of the options money went into calls.” Call premium reached $24.8 million; puts drew $3.4 million. The reported put/call volume ratio was 0.48, and 34 contracts traded above their open interest.

GTA Terminal made the signal conditional on further call buying and price follow-through. The largest disclosed call trade centers on the $150 strike for the Nov. 13 expiry. GTA Terminal then detailed four call positions:

• Nov. 13 $150 calls: 13,955 contracts, open interest of 3,844, about $6.0 million in premium.
• Jan. 2029 $120 calls: 375 contracts, open interest of 254, about $2.4 million in premium.
• Sep. 2027 $190 calls: 1,114 contracts, open interest of 527, about $2.3 million in premium.
• Jan. 2029 $190 calls: 510 contracts, open interest of 344, about $2.2 million in premium.

Using GTA Terminal’s rounded figures, the four listed call trades represented about $12.9 million, roughly 46% of the $28.2 million premium. The Nov. 13 $150 calls alone carried about $6.0 million, making the nearest expiry the largest concentration. The Jan. 2029 and Sep. 2027 positions extended part of the call buying beyond the near-term setup.

Across those four trades, volume ranged from about 1.5 to 3.6 times the stated open-interest count. For practitioners, that comparison captures the pace of trading relative to contracts already outstanding without treating options volume as a guarantee of direction.

GTA Terminal’s daily chart kept MRVL below all four tracked moving averages. The $141.20 close sat under the 20-day simple moving average at $217.24, the 50-day at $234.31, the 100-day at $232.16 and the 200-day at $185.05.

Price history showed the scale of the decline. An Oct. 29 gap down from $251.65 led to the Nov. 5 low of $132.54, the lowest level in 60 sessions. Friday volume reached 33.5 million shares, about 1.2 times the 20-day average.

Against that backdrop, the 14-day RSI stood at 26, which GTA Terminal classified as oversold. The rebound therefore has an oversold-condition signal behind it, but not a moving-average recovery.

GTA Terminal’s dark-pool measure, described as the off-exchange share, was 41.3% on Nov. 2, 44.5% on Nov. 3, 42.4% on Nov. 4, 38.5% on Nov. 5 and 44.5% on Nov. 6. The Nov. 6 figure covered 14.9 million shares.

The five-session series spanned six percentage points and ended 3.2 points above Nov. 2. The off-exchange share matched its Nov. 3 high on the final day, putting the joint-heaviest reported reading alongside the call-heavy session.

What does this change for MRVL traders?

GTA Terminal framed the next test in two parts: call money must keep building, and price must reclaim $166.32, the Nov. 4 high and first resistance, into the Nov. 13 expiry. The $150 strike, home to the largest listed call trade, now sits between the current close and that first resistance marker.

Moving above $166.32 would put the $185.05 200-day simple moving average in play as GTA Terminal’s upper level. That average stood 31% above the Nov. 6 close.

By contrast, GTA Terminal set $132.54, the Nov. 5 low, as the downside invalidation: “A close back under 132.54 would invalidate the call-side read.” That makes the low the risk line for traders treating the call flow as a near-term bullish signal.

The practical answer is conditional rather than binary. Follow-through above $166.32 would validate the call-side setup into Nov. 13; a close below $132.54 would negate it. GTA Terminal ended the chart with a disclaimer that it was not financial advice, and its watch point remains whether fresh call demand arrives fast enough to carry price through resistance.