Late night check on Marvell – and this thing is moving pre-earnings.
MRVL closed at $245.11 yesterday, up 1.97%. But overnight is showing around $255, up about 4.4% – so the market's leaning bullish into the print.
Here's the GEX setup:
Put Wall $240, Call Wall $250, gamma flip around $209. Today's close at $245 was sitting just below the Call Wall. But overnight at $256 is now above it – positive gamma territory, dealers now supporting the upside. [GEX? Never heard of it? Here ya go](https://www.moomoo.com/us/learn/detail-gamma-exposure-gex-understanding-dealer-hedging-flows-and-key-levels-107906-260473079?global_content=%7B%22promote_content%22:%2211067213%22,%22promote_id%22:20795,%22promote_type%22:43,%22sub_promote_id%22:1%7D)
Technically, we're approaching the upper Bollinger band ($255.50). RSI in the mid 60s. MACD positive and widening – momentum is building.
Tonight after the close is the main event. The story here is AI networking – optical DSPs (800G/1.6T), switching products like Teralynx, and custom silicon (XPU programs). Recent commentary has pointed to strengthening demand, including traction with hyperscalers and the early ramp of Amazon's Trainium-related work. There's also been notable news around an expanded Google custom-chip relationship.
NVDA reported first and the sector reaction has been watched closely. MRVL has historically moved with AI infrastructure sentiment, so tonight's guidance on interconnect growth, custom silicon visibility, and sequential outlook will be the real test.
Options are pricing roughly a 10-11% swing, check the Expected Move column, it's been right around that range lately. So yeah, expectations are already baked in. The bar is not low.
Longer term, Marvell sits in a sweet spot – not just compute, but the networking and custom silicon that connects and customizes it.
Short-term, above $250 and that Call Wall becomes support – $260-270 could come next. Below $240 and the Put Wall flips to resistance.
Overnight at $256 is already above the wall. Let's see if it holds through the print.
Let's see if MRVL follows NVDA's lead or does its own thing. Either way, I'll be glued to the screen like an idiot. Good luck u guys.
DYOD🫡