← Option Trades · Experimental · High Risk
MRVL: Long straddle
NeutralMarvell Technology
A stock that swings 3% on quiet days reports Thursday. Both directions are for sale.
By Atul Ghandhi · Updated August 25, 2026 (2026-08-25)
The Trade
| Leg | Type | Strike | Expiry |
|---|---|---|---|
| buy | call | $245.00 | Fri, Aug 28 |
| buy | put | $245.00 | Fri, Aug 28 |
Struck against: $244.54 ▲ 6.65% (Aug 25 intraday, 2:10pm ET, per Cboe delayed quote)
Catalyst: Q2 FY2027 earnings, Thursday Aug 27 after the close
New to this structure? What is a straddle →
The Exits
- Profit order
- Sell the whole package at 60% profit at any point, before or after the print.
- Event hold
- Otherwise hold both legs through Thursday night. A straddle sold before its event is a donation to the market maker.
- Time stop
- Close both legs by 11am Friday. After the print the position is only decaying.
Sizing reality: A straddle pays for two options, so a 10.8% implied move means the stock has to travel hard for the package to double.
Why This Trade
Marvell reports Thursday after the close. Consensus sits at $0.928 against a $0.93 guide midpoint, so the printed quarter is a coin toss by design. Into last weekend the chain priced about a 10.8% move.
The stock cannot sit still. It fell 3.27% on Monday with no report, then rose near 7% on Tuesday on its Google chip deal. That is a full week of movement in two sessions, before the event.
Last quarter the headline said $0.80 while the GAAP line said $0.04. A gap that wide makes every print combustible, because the market has to re-decide which number it believes.
The straddle does not pick a side. It needs the stock to move more than the chain charges, and this season the realised move has beaten the implied one repeatedly.
The Chain
The Fri, Aug 28 strikes this trade lives in. Cboe delayed quotes as of 2026-08-25 14:50:09 ET, with MRVL at $243.46. The page refreshes the numbers hourly.
| Calls | Strike | Puts | ||||
|---|---|---|---|---|---|---|
| Bid | Ask | Last | · | Bid | Ask | Last |
| 16.40 | 17.40 | 16.85 | 235.00 | 8.10 | 8.60 | 8.40 |
| 14.00 | 14.50 | 14.64 | 240.00 | 10.35 | 10.85 | 10.60 |
| 11.40 | 12.10 | 11.78 | 245.00 | 12.85 | 13.60 | 13.20 |
| 9.50 | 10.00 | 9.80 | 250.00 | 15.70 | 16.45 | 15.81 |
| 7.65 | 8.25 | 8.00 | 255.00 | 18.90 | 19.70 | 20.10 |