I am recommending we roll our Marvell Technology Group (MRVL) put and Micron Technology (MU) call.
MRVL Jun Monthly (6/18) 53 Put
Current Stock Price: $55.15
Net Debit: $4.45
Action:
- Buy to close the MRVL Jun Monthly (6/18) 53 Put for around $0.10
- Sell to open the MRVL Jun Week Four (6/25) 54 Put for around $0.60
- Set your initial credit limit at $0.50, but adjust as needed to roll today
New Net Debit: $3.95
Expiration: After the close on Friday, June 25
Potential Rate of Return: I am targeting breakeven for this position
MU Jun Monthly (6/18) 80 Call
Current Stock Price: $81.23
Cost Basis: $85.35
Action:
- Buy to close the MU Jun Monthly (6/18) 80 Call for around $1.49
- Sell to open the MU Jun Week Four (6/25) 80 Call for around $2.27
- Set your initial credit limit at $0.78, but adjust as needed to roll today
New Cost Basis: $84.57
Expiration: After the close on Friday, June 25
Potential Rate of Return: I am targeting breakeven for this position