Option traders moderately bearish in Marvell with shares down 0.79%

Option traders moderately bearish in Marvell (MRVL), with shares down 55c near $68.30. Options volume relatively light with 58k contracts traded and calls leading puts for a put/call ratio of 0.84, compared to a typical level near 0.69. Implied volatility (IV30) is higher by 1.4 points near 50.45,and below the 52wk median, suggesting an expected daily move of $2.17. Put-call skew steepened, indicating increased demand for downside protection.