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OIB Trade Alert: MRVL

While we could close the Marvell Technology Group (MRVL) covered call position now at a profit, I’d rather keep the trade going by rolling out two weeks and to a higher strike. This will bring in more income and give us the opportunity to capture more potential appreciation.

Current Stock Price: $50.70

Cost Basis: $49.99

Action:

  • Buy to close the MRVL Jan Monthly (1/15) 51 Call for around $0.21
  • Sell to open the MRVL Jan Week Five (1/29) 52 Call for around $1.09
  • Set your initial credit limit at $0.88, but adjust as needed to close today

New Cost Basis: $49.11

Expiration: After the close on Friday, Jan. 29

Potential Rate of Return: 5.7% in 18 days, or 116% annualized, if shares are called away

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