Heavy flow on $Marvell Technology(MRVL)$ : $9.6M of premium through the Sep 11 $240 calls, 22 days to expiry. They went in the money, 4.4% inside, paying up for delta instead of gambling on distance. Usually that reads as a conviction trade rather than a lottery ticket. Volume ran 26.8x the standing open interest, which is the signature of a position being built, not unwound. For scale, that's about 3.2x the premium a typical flagged MRVL print carries.

When one strike keeps absorbing flow like this, it stops being noise. That's real money positioning for MRVL higher inside the next month. Zooming out, flagged premium across the whole feed is running roughly 26% calls / 74% puts today, so this is a bet against the day's grain, which makes it more interesting, not less. Into the closing hour, when the real money often shows its hand.