Our Apple (AAPL) and Marvell Technology Group (MRVL) calls are in the money and our shares are on track to be called away.
With Apple, we will be exiting with a small profit, but a profit, nonetheless. This is a win for us, as we were deep underwater on the position at one point. While I do not see the stock moving up for a considerable period of time, Apple is a fabulous company. And I refuse to take losses on fabulous companies.
Marvell Technology is also a fabulous company. So, we will continue to manage this position by selling puts to reduce our net debit and work our way toward breakeven.
AAPL Jun Week Two (6/11) 125 Call
Current Stock Price: $126.83
Cost Basis: $124.04
Action: Allow shares to be called away
Profit: $0.96, or $96 per contract
Rate of Return: 0.7% in 123 days, or 2% on an annualized basis
MRVL Jun Week Two (6/11) 46 Call
Current Stock Price: $51.60
Cost Basis: $51.02
Action: Allow shares to be called away
Net Debit: $5.02