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OIB Trade Alert: ICLN, MRVL, MU

We accepted shares of iShares Global Clean Energy ETF (ICLN), Marvell Technology Group (MRVL) and Micron Technology (MU) last week.

I am recommending calls to sell against them to reduce our cost basis on the positions.

Note that these recommendations are only for people who own shares of these stocks uncovered from previous recommendations.

ICLN Uncovered Shares

Current Stock Price: $22.16

Cost Basis: $24.20

Action: Sell to open the ICLN May Week Two (5/14) 22.50 Call

Current Option Price: $0.30-$0.40

Recommended Limit: Set your initial limit order at $0.35, but adjust as needed to sell a call today

New Cost Basis: $23.85

Expiration Date: After the close on Friday, May 14

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

MRVL Uncovered Shares

Current Stock Price: $45.47

Cost Basis: $51.64

Action: Sell to open the MRVL May Week Two (5/14) 47 Call

Current Option Price: $0.42-$0.46

Recommended Limit: Set your initial limit order at $0.44, but adjust as needed to sell a call today

New Cost Basis: $51.20

Expiration Date: After the close on Friday, May 14

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

MU Uncovered Shares

Current Stock Price: $85.53

Cost Basis: $89.95

Action: Sell to open the MU May Week Two (5/14) 87.50 Call

Current Option Price: $1.18-$1.23

Recommended Limit: Set your initial limit order at $1.20, but adjust as needed to sell a call today

New Cost Basis: $88.75

Expiration Date: After the close on Friday, May 14

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

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