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OIB Trade Alert: AAPL, MRVL, MU

The market has not been kind to tech stocks, including Apple (AAPL), Marvell Technology Group (MRVL) and Micron Technology (MU).

But with them running up today, I am recommending we roll our call positions on these stocks out one week to generate more cash.

AAPL May Week Two (51/4) 128 Call

Current Stock Price: $125.52

Cost Basis: $127.38

Action:

  • Buy to close the AAPL May Week Two (51/4) 128 Call for around $0.19
  • Sell to open the AAPL May Monthly (5/21) 128 Call for around $1.15
  • Set your initial credit limit at $0.96, but adjust as needed to roll today

New Cost Basis: $126.42

Expiration: After the close on Friday, May 21

Potential Rate of Return: 1.2% in 102 days, or 4.2% annualized, if shares are called away

MRVL May Week Two (5/14) 44 Call

Current Stock Price: $41.77

Cost Basis: $50.82

Action:

  • Buy to close the MRVL May Week Two (5/14) 44 Call for around $0.07
  • Sell to open the MRVL May Monthly (5/21) 44 Call for around $0.34
  • Set your initial credit limit at $0.27, but adjust as needed to roll today

New Cost Basis: $50.55

Expiration: After the close on Friday, May 21

Potential Rate of Return: I am targeting breakeven for this position

MU May Week Two (5/14) 80 Call

Current Stock Price: $77.92

Cost Basis: $87.88

Action:

  • Buy to close the MU May Week Two (5/14) 80 Call for around $0.25
  • Sell to open the MU May Monthly (5/21) 80 Call for around $1.10
  • Set your initial credit limit at $0.85, but adjust as needed to roll today

New Cost Basis: $87.03

Expiration: After the close on Friday, May 21

Potential Rate of Return: I am targeting breakeven for this position

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