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MRVL 83–90 Call Spread Sees 2,800 Contracts Traded for VWAP of 0.94: Why It Matters
Marvell Technology (MRVL) drew attention after a sizable 2,800-contract call spread traded on August 13, 2025, with the 83–90 strikes and a VWAP (volume-weighted average price) of $0.94. By midday, the spread value rose to 0.98, delivering an average gain of 3.8% for buyers, tied to a slight rise in MRVL’s share price from $79.03 to $79.06.
Large Call Spread Structure: Over $132K Paid, $848K Max Profit Potential
Let’s break down what made this trade notable. This wasn’t just a one-off option purchase—it was a coordinated, multi-leg bet on a near-term upside. Here’s a detailed summary:
| Parameter | Value |
|---|---|
| Options Trade Expiration | 22-Aug-25 |
| Call Spread Strikes | 83/90 |
| Contracts Traded | 2,800 |
| VWAP Trade Price | 0.94 |
| VWAP Bid/Ask | 0.88 / 1.09 |
| Days to Expiration | 9 |
| Reference Stock Price | 79.03 |
Buyers of this spread collectively risked over $132,000 (2,800 contracts x $0.94 x 100 shares per contract) for a maximum potential payout near $848,000, if MRVL closes above $90 on expiration. Want to analyze trades like this? Try the multi-leg trade analyzer.
Technical Indicators Are Bullish: Short-Term and Relative Strength Shine
Beyond options, what is MRVL’s technical story? Several data points reveal a constructive backdrop:
- Current price: $79.06, up 1.61% on the day, and 4.7% above its 20-day moving average.
- The price is up 8.2% over the 50-day moving average, although it’s still 2.6% below its 250-day average.
- MRVL has dramatically outperformed the SPY (S&P 500 ETF): up 31% year-over-year versus SPY’s 22%.
- On short-term intervals (3-month, 2-week), MRVL also outpaced SPY returns, reflecting strong relative momentum.
| Duration | MRVL Return | Low | High | SPY Return |
|---|---|---|---|---|
| Today | +1.6% | 78.03 | 80.06 | +0.1% |
| 2 Week | +3.5% | 73.42 | 85.27 | +1.3% |
| 1 Month | +8.7% | 68.00 | 85.27 | +3.2% |
| 3 Month | +22.6% | 58.61 | 85.27 | +10.7% |
| 6 Month | -24.9% | 47.09 | 112.50 | +7.2% |
| 1 Year | +31.0% | 47.09 | 127.48 | +22.0% |
| YTD | -28.3% | 47.09 | 127.48 | +10.4% |
| 3 Year | +44.1% | 33.75 | 127.48 | +55.5% |
| 5 Year | +127.4% | 32.53 | 127.48 | +100.2% |
Technically, MRVL is in a bullish phase, with its 20-day moving average now crossing above the 50-day average—a bullish crossover pattern that historically supports further upside. The price is pressing above expected daily resistance ($80.45), suggesting that momentum may still have room to run.
Option Skew and Volatility Rank Signal a Bullish Posture
Option sentiment metrics further align with this bullishness. The proprietary Market Chameleon 30-day implied volatility skew ranks at 81% (out of 100), indicating the most optimistic option-based outlook for MRVL in the past 52 weeks. Skew ranks this high are rare and typically point to heightened expectations for upward price movement, possibly due to catalysts or sustained momentum.
This skew metric uses forward-looking implied volatility across strikes to estimate market sentiment, so a high reading is notable, especially when combined with bullish technicals and strong relative returns. You can screen for more call spreads or multi-leg strategies at the Multi-Leg Option Trades Screener.
Final Takeaway: Bullish Structure With Defined Risk and Upside
The 2,800-lot call spread trade in MRVL demonstrates a willingness to risk $132K for a potential $848K win, targeting a break above $90 in just over a week. Combined with bullish technical trends and high option skew, it paints a picture of traders betting on a further near-term upside. As always, investors should consider whether similar conditions in MRVL match their own risk appetites—and may want to watch closely how price and volatility play out into expiration.
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NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.
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