MRVL Options Chain Analysis

As of previous close (2026-10-02) · OPRA historical data

Spot $273 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.21

888k P / 732k C

Put/Call (Volume)

0.54

66k P / 124k C that session

30d ATM IV

61%

annualized implied move

Call wall

$300

68k contracts

Put wall

$200

53k contracts

Tail hedging

3.7×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.21 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $300 (68k contracts), 10% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $200 (53k contracts), 27% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 3.7× deep-OTM call OI — an institutional hedging ladder sits under this stock.
●30-day ATM implied volatility is 61% — the market prices very large moves; option premium is expensive.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-10-30. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-09	31k	34k	1.09	48k
2026-10-16	130k	134k	1.03	27k
2026-10-23	8k	16k	2.14	4k
2026-10-30	11k	9k	0.78	10k
2026-11-06	2k	2k	1.44	2k
2026-11-13	217	121	0.56	908
2026-11-20	87k	100k	1.16	10k
2026-12-18	90k	115k	1.27	5k
2027-01-15	101k	166k	1.65	7k
2027-02-19	11k	20k	1.86	1k
2027-03-19	43k	74k	1.73	2k
2027-04-16	315	2k	5.19	648
2027-05-21	1k	2k	1.59	132
2027-06-17	47k	72k	1.56	2k
2027-09-17	13k	19k	1.49	2k
2027-12-17	19k	12k	0.61	182
2028-01-21	42k	35k	0.85	643
2028-03-17	4k	2k	0.52	112
2028-06-16	26k	20k	0.75	291
2029-01-19	2k	2k	0.84	710

Source: Cboe end-of-session option chains, summarized after each US market close and published from the following trading day — OPRA historical data. Under the OPRA plan options data becomes historical, and freely publishable, at the opening of the next trading session; data from the session in progress is never displayed or served here. Open interest is exchange-reported once a day. Research, not investment advice.