Mixed options sentiment in Marvell with shares up 2.49%

Mixed options sentiment in Marvell (MRVL), with shares up $1.86, or 2.49%, near $76.66. Options volume running well above average with 111k contracts traded and calls leading puts for a put/call ratio of 0.73, compared to a typical level near 0.67. Implied volatility (IV30) dropped 2.46 near 61.43,and above the 52wk median, suggesting an expected daily move of $2.97. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at KGI Securities.The company will report earnings after the close today. Option markets are pricing in a 50% probability of a move greater than 8.94% or $6.85.