The tech sell-off clobbered our Apple (AAPL) and Marvell Technology Group (MRVL) positions. I am recommending we accept shares rather than attempt to roll the puts.
Next week, I will recommend calls to sell against the shares to reduce our cost basis on the positions. While I am currently targeting breakeven, that could change if the tech sector rebounds.
AAPL Feb Week Four (2/26) 136 Put
Current Stock Price: $121.59
Cash in Hand: $2.41
Action: Accept shares
Cost Basis: $133.59
Potential Rate of Return: I am targeting breakeven for this position
MRVL Feb Week Four (2/26) 52.50 Put
Current Stock Price: $46.78
Cash in Hand: $1
Action: Accept shares
Cost Basis: $51.50
Potential Rate of Return: I am targeting breakeven for this position