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OIB Trade Alert: C, MRVL

We have positions in Citigroup (C) and Marvell Technology (MRVL) expiring today.

I am recommending we allow our Citigroup shares to be called away given that the company is scheduled to report earnings next week. We will sell a put after the announcement to reduce our net debit on the position.

And let’s close MRVL now with a decent profit rather than risk rolling out a week.

C Jan Week One (1/7) 61 Call

Current Stock Price: $66.06

Cost Basis: $66.77

Action: Allow shares to be called away

Net Debit: $5.77

MRVL Jan Week One (1/7) 85 Put

Current Stock Price: $85.53

Cash in Hand: $0.69

Action: Buy to close the MRVL Jan Week One (1/7) 85 Put

Current Option Price: $0.36-$0.41

Recommended Limit: Set your initial limit order at $0.39, but adjust as needed to close today

Profit: $0.30, or $30 per contract

Rate of Return: 0.4% in four days, or 32% on an annualized basis

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