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OIB Trade Alert: FSLR, MRVL, MU

I am recommending we roll our First Solar (FSLR), Marvell Technology Group (MRVL) and Micron Technology (MU) puts out one week to buy ourselves some more time and bring in additional income.

FSLR Apr Monthly (4/16) 80 Put

Current Stock Price: $77.65

Cash in Hand: $0.87

Action:

  • Buy to close the FSLR Apr Monthly (4/16) 80 Put for around $2.60
  • Sell to open the FSLR Apr Week Four (4/23) 80 Put for around $3.55
  • Set your initial credit limit at $0.95, but adjust as needed to roll today

New Cash in Hand: $1.82

Potential Rate of Return: 2.3% in 18 days, or 46% annualized, if this option expires worthless

MRVL Apr Monthly (4/16) 50 Put

Current Stock Price: $48.24

Net Debit: $2.04

Action:

  • Buy to close the MRVL Apr Monthly (4/16) 50 Put for around $1.85
  • Sell to open the MRVL Apr Week Four (4/23) 50 Put for around $2.25
  • Set your initial credit limit at $0.40, but adjust as needed to roll today

New Net Debit: $1.64

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

MU Apr Monthly (4/16) 92.50 Put

Current Stock Price: $89.65

Cash in Hand: $1.72

Action:

  • Buy to close the MU Apr Monthly (4/16) 92.50 Put for around $3.02
  • Sell to open the MU Apr Week Four (4/23) 92.50 Put for around $3.65
  • Set your initial credit limit at $0.63, but adjust as needed to roll today

New Cash in Hand: $2.35

Potential Rate of Return: 2.5% in 37 days, or 25% annualized, if this option expires worthless

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