I am recommending a call to sell against our uncovered Marvell Technology (MRVL) shares to reduce our cost basis on the position.
Note that this trade is only for members who already own MRVL shares uncovered from a previous position.
Current Stock Price: $55.27
Cost Basis: $69.24
Action: Sell to open the MRVL May Monthly (5/20) 55 Call
Current Option Price: $2.89 -3.10
Recommended Limit: Set your initial limit order at $3.05, but adjust as needed to sell a call today
Expiration: After the close on Friday, May 20
New Cost Basis: $66.19
Potential Rate of Return: I am targeting breakeven for this position