Marvell Technology (MRVL) is pulling back a bit after a nice run-up earlier this week, but we’re still sitting on a great profit.
Given MRVL’s trading action and the fact that rival Taiwan Semiconductor Manufacturing (TSM) is scheduled to report earnings tomorrow, it makes sense to lock it in now.
Current Stock Price: $85.21
Cash in Hand: $0.70
Action: Buy to close the MRVL Jan Week Two (1/14) 81 Put
Current Option Price: $0.17-$0.20
Recommended Limit: Set your initial limit order at $0.19, but adjust as needed to close today
Profit: $0.51, or $51 per contract
Rate of Return: 0.6% in two days, or 115% on an annualized basis