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OIB Trade Alert: MRVL

We were assigned shares of Marvell Technology (MRVL) last week. As I said in the previous alert, we will continue to trade this core stock by selling calls to generate income and reduce our cost basis on the position.

Current Stock Price: $37.60

Cost Basis: $62.59

Action: Sell to open the MRVL Oct Week Four (10/28) 39 Call

Current Option Price: $0.91-$0.94

Recommended Limit: Set your initial limit order at $0.92, but adjust as needed to sell a call today

New Cost Basis: $61.67

Expiration: After the close on Friday, Oct. 28

Potential Rate of Return: I am targeting breakeven for this position

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