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Income Masters Trade Alert: MRVL, PTON, TGT

I am recommending we roll our Marvell Technology Group (MRVL), Peloton Interactive (PTON) and Target (TGT) puts.

MRVL is selling off today after the company announced it is acquiring data center component chipmaker Inphi (IPHI) for $10 billion. We are rolling out one week to generate some cash and buy time for the stock to rebound.

Note that PTON is expected to announce earnings one day before the new put expires. I plan to close the position before then. If it is not profitable, we will continue the position once the earnings dust settles, carrying over the net debit.

Our TGT put is deep in the money, but I want to roll for more income rather than accept shares. I expect the stock to resume its uptrend sooner rather than later.

MRVL Oct Week Five (10/30) 40 Put

Current Stock Price: $37.97

Cash in Hand: $0.63

Action:

  • Buy to close the MRVL Oct Week Five (10/30) 40 Put for around $2.17
  • Sell to open the MRVL Nov Week One (11/6) 40 Put for around $2.62
  • Set initial credit limit at $0.45

New Cash in Hand: $1.08

PTON Oct Week Five (10/30) 120 Put

Current Stock Price: $116.19

Cash in Hand: $1.34

Action:

  • Buy to close the PTON Oct Week Five (10/30) 120 Put for around $4.58
  • Sell to open the PTON Nov Week One (11/6) 110 Put for around $5.57
  • Set initial credit limit at $0.99

New Cash in Hand: $2.33

TGT Oct Week Five (10/30) 160 Put

Current Stock Price: $154.45

Cash in Hand: $2.75

Action:

  • Buy to close the TGT Oct Week Five (10/30) 160 Put for around $5.58
  • Sell to open the TGT Nov Week One (11/6) 160 Put for around $7.07
  • Set initial credit limit at $1.49

New Cash in Hand: $4.24

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