iShares Global Clean Energy ETF (ICLN), Marvell Technology Group (MRVL) and Micron Technology (MU) are all trading below the strike price of the puts we sold. I am recommending we accept shares. We will sell calls against them soon to reduce our cost basis on the positions.
I have great confidence in the chip sector and the clean energy sector and believe Wall Street has overreacted to news about chip shortages.
ICLN Apr Week Five (4/30) 24.50 Put
Current Stock Price: $23.20
Cash in Hand: $0.30
Action: Accept shares
Cost Basis: $24.20
MRVL April Week Five (4/30) 50 Put
Current Stock Price: $46.20
Net Debit: $1.64
Action: Accept shares
Cost Basis: $51.64
MU April Week Five (4/30) 92.50 Put
Current Stock Price: $86.93
Cash in Hand: $2.55
Action: Accept shares
Cost Basis: $89.95