Marvell Technology (MRVL) added nearly 4 percent and traded 8,400 calls and 2,700 puts Tuesday ahead of 12/3 earnings. The options action was a mix late in the day of the same strategy emulated a few times in large size amounting for around 2,000 X 4,000 December 16/17 ratio call spreads, the $16’s being bought and the $17’s being sold in a slightly bullish in price, and bearish the 47% implied volatility strategy. Maximum profits are realized on expiration on a move to $17, or 6% higher from here and at a previous double top resistance. Shares are fairly valued at 16.2X earnings, but profitability ratios are worrisome.