Marvell Technology (MRVL) is selling off today, but our MRVL Feb Monthly (2/17) 39 Call remains deep in the money.
I am recommending we allow our shares to be called away, incurring a large net debit. I will recommend a put to sell soon to generate income and reduce that net debit. However, we will be looking to avoid the company’s earnings announcement on March 2.
Current Stock Price: $43.93
Cost Basis: $56.20
Action: Allow shares to be called away
Net Debit: $17.20
Potential Rate of Return: I am targeting breakeven for this position