Our Marvell Technology Group (MRVL) shares were called away last week, causing us to incur a net debit on the position. I am recommending a new put to sell today that will reduce that net debit.
You can sell this put even if you were not in the previous position. Just be aware that we will be managing and tracking it as an ongoing position.
Current Stock Price: $50.57
Net Debit: $3.18
Action: Sell to open the MRVL Apr Monthly (4/16) 50 Put
Current Option Price: $1.13-$1.15
Recommended Limit: Set your initial limit order at $1.14, but adjust as needed to sell a put today
New Net Debit: $2.04