Our Marvell Technology Group (MRVL) shares were called away on Friday, resulting in a net debit.
As I said last week, Marvell Technology is a fabulous company. So, we will continue to manage this position by selling puts to reduce our net debit and work our way toward breakeven.
You can enter today’s trade even if you were not in the previous one. Just be aware that we will only be managing and tracking it as an ongoing position.
Current Stock Price: $53.38
Net Debit: $5.02
Action: Sell to open the MRVL Jun Monthly (6/18) 53 Put
Current Option Price: $0.56-$0.58
Recommended Limit: Set your initial limit order at $0.57, but adjust as needed to sell a put today
New Net Debit: $4.45
Expiration: After the close on Friday, June 18
Potential Rate of Return: I am targeting breakeven for this position