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OIB Trade Alert: ICLN, MRVL, MU

Our iShares Global Clean Energy ETF (ICLN), Marvell Technology Group (MRVL) and Micron Technology (MU) calls are all in the money.

I am recommending we roll these positions out two weeks and to higher strikes. We will be spending a bit of cash to do so, but that will be more than offset by the appreciation potential we are capturing with the rolls.

ICLN May Week Four (5/28) 22.50 Call

Current Stock Price: $22.81

Cost Basis: $23.53

Action:

  • Buy to close the ICLN May Week Four (5/28) 22.50 Call for around $0.35
  • Sell to open the ICLN Jun Week Two (6/11) 23 Call for around $0.35
  • Set your initial credit limit at $0, but adjust as needed to roll today

New Cost Basis: $23.53

Expiration: After the close on Friday, June 11

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

MRVL May Week Four (5/28) 45 Call

Current Stock Price: $48.20

Cost Basis: $50.87

Action:

  • Buy to close the MRVL May Week Four (5/28) 45 Call for around $3.20
  • Sell to open the MRVL Jun Week Two (6/11) 46 Call for around $3.05
  • Set your initial debit limit at $0.15, but adjust as needed to roll today

New Cost Basis: $51.02

Expiration: After the close on Friday, June 11

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

MU May Week Four (5/28) 81 Call

Current Stock Price: $83.66

Cost Basis: $86.23

Action:

  • Buy to close the MU May Week Four (5/28) 81 Call for around $2.83
  • Sell to open the MU Jun Week Two (6/11) 83 Call for around $2.71
  • Set your initial debit limit at $0.12, but adjust as needed to roll today

New Cost Basis: $86.35

Expiration: After the close on Friday, June 11

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

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