Unusual Options Activity Fri 5/24/24

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.
Bullish Call Activity:

• AI Weekly May31 26.5 calls (volume: 12.7K, open int: 880, implied vol: ~80%, prev day implied vol: 60%). 11.7K traded in a single transaction. Co is confirmed to report earnings May 29 after the close.
• GPS Weekly May31 25 calls (volume: 2010, open int: 750, implied vol: ~72%, prev day implied vol: 56%). Co is confirmed to report earnings May 30 after the close.
• MRVL Jun 84 calls (volume: 1620, open int: 70, implied vol: ~51%, prev day implied vol: 46%). Co is confirmed to report earnings May 30 after the close.
• WDAY Weekly May24 235 calls are seeing interest with the underlying stock down 14% (volume: 3750, open int: 10, implied vol: ~26%, prev day implied vol: 24%). Co reported earnings last night.
  

Bearish Put Activity:

• ORCL Weekly May24 123 puts (volume: 2140, open int: 2740, implied vol: ~33%, prev day implied vol: 29%). Co is expected to report earnings mid-June.
• PZZA Jul 47.5 puts (volume: 5520, open int: 5550, implied vol: ~34%, prev day implied vol: 32%). 5230 contracts traded in a single transaction. We noted activity in the Jun 57.5 puts earlier in the week (see 5/23 13:17 OPTNX). Co is expected to report earnings early August.
  

Sentiment: The CBOE Put/Call ratio is currently: 0.90, VIX: (12.19, -0.58, -4.6%).

June 21 is options expiration -- the last day to trade June equity options. 

Unusual Options Activity

The following options are exhibiting notable trading, potentially indicating changing sentiment toward the underlying stocks, and/or potentially representing positioning for increased volatility.

 

Bullish Call Activity:

• MRVL Mar 47.5 calls are seeing interest ahead of earnings tonight after the close (volume: 1770, open int: 40, implied vol: ~163%, prev day implied vol: 127%). Co is presenting at two conferences in March.
• MP Mar 35 calls are seeing interest with the underlying stock down 12% (volume: 1610, open int: 370, implied vol: ~59%, prev day implied vol: 52%). Co is expected to report earnings early May.
• SU Mar 37 calls (volume: 11.6K, open int: 10, implied vol: ~33%, prev day implied vol: 32%). 1700 contracts traded in a single transaction. Co is expected to report early May.
  

Bearish Put Activity:

• UPST Mar 16.5 puts are seeing interest with the underlying stock down 5% (volume: 3570, open int: 280, implied vol: ~112%, prev day implied vol: 101%). 1100 contracts traded in a single transaction. Co is expected to report earnings early May.
• JNJ Mar 150 puts (volume: 2150, open int: 220, implied vol: ~25%, prev day implied vol: 23%). Co is scheduled to present at two conferences in March. Co is confirmed to report earnings April 18 before the open.

=Long trade : MRVL +17% (11/17)

• Nov. 16:  #97;  vol. 6.7 M   +17%

=Marvell (MRVL) reported earnings on Thur 24 August 2017 (a/h)

Marvell beats by $0.04, beats on revs; guides Q3 EPS, revs in-line

• Reports Q2 (Jul) earnings of $0.30 per share, excluding non-recurring items, $0.02 better thanthe Capital IQ Consensus of $0.28; revenues rose 11.5% year/year to $604.75 mln vs the $600.76 mln Capital IQ Consensus.
  • Q2 Gross Margin: 60.4% GAAP gross margin; 61.2% non-GAAP gross margin
• Co issues guidancefor Q3, sees EPS of $0.30-0.34, excluding non-recurring items, vs. $0.31 Capital IQ Consensus Estimate; sees Q3 revs of $595-625 mln vs. $615.98 mln Capital IQ Consensus Estimate.
  • GAAP and non-GAAP gross margins are expected to be approximately 61% to 62%.
  • Non-GAAP operating expenses are expected to be $205 million to $210 million.

=Marvell (MRVL) reported earnings on Thur 11/17/16 (a/h)

Marvell beats by $0.08, beats on revs; guides Q4 ex-discontinued operations; announces $1 bln buyback :

• Reports Q3 (Oct) earnings of $0.20 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus of $0.12; revenues -3% year/year to $654 mln vs the $615.76 mln Capital IQ Consensus.
• Co issues guidance for Q4 ex-the estimated results of certain non-strategic businesses that have a first half of fiscal 2017 annualized run rate of ~$100 million in revenue and $60 million in operating expenses (discontinued operations following Nov 2 restructuring announcement -- sees adj. EPS of $0.17-0.21, may not be comparable to $0.13 Capital IQ Consensus; sees Q4 revs of $553.7-576.3 mln, may not be comparable to $594.03 mln Capital IQ Consensus Estimate. 
• Marvell's fourth quarter of fiscal 2017 financial outlook also excludes  These businesses will be classified as discontinued operations beginning in the fourth quarter of fiscal 2017.
• "Our core businesses performed very well, with data storage and network infrastructure growing double digits year-over-year."
• The Board of Directors has authorized a $1 billion share buyback program. This newly authorized stock repurchase program replaces in its entirety the prior $3.25 billion stock repurchase program, which had ~$115 million of repurchase authority remaining. The Company currently intends to repurchase approximately $500 million worth of shares over the next 12 months.

=Marvell (MRVL) reported earnings Mon 7 Dec 2015

• Marvell Technology reports 3rd-quarter loss of $61.7 million

HAMILTON, Bermuda (AP) _ Marvell Technology Group Ltd. (MRVL) on Monday reported a fiscal third-quarter loss of $61.7 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of 12 cents. Earnings, adjusted for restructuring costs and stock option expense, came to 5 cents per share.

The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The chipmaker posted revenue of $674.1 million in the period, which also fell short of Street forecasts. Ten analysts surveyed by Zacks expected $725.1 million.

Marvell shares have decreased 36 percent since the beginning of the year. The stock has fallen 39 percent in the last 12 months.

Marvell (MRVL) reported earnings Thurs 16 Aug 2012

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** after earnings **
Marvell's fiscal second-quarter earnings fell 52% as the chip maker continued to suffer from weaker demand in its core businesses. Results missed company estimates and Marvell also gave weak third-quarter guidance on soft PC demand. Shares fell 8% in after-hours trading to $11.30.

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