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OIB Trade Alert: MRVL, MU

I am recommending we roll our Marvell Technology Group (MRVL) put out one week and to a higher strike to generate more income.

 

Let’s also roll our Micron Technology (MU) call. With the company expected to announce earnings next week, we are going with a strike that is well out of the money and will result in a small profit if our shares are called away.

MRVL Jun Week Four (6/25) 54 Put

Current Stock Price: $55.67

Net Debit: $3.95

Action:

  • Buy to close the MRVL Jun Week Four (6/25) 54 Put for around $0.06
  • Sell to open the MRVL Jul Week One (7/2) 55 Put for around $0.65
  • Set your initial credit limit at $0.59, but adjust as needed to roll today

New Net Debit: $3.36

Expiration: After the close on Friday, July 2

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

MU Jun Week Four (6/25) 80 Call

Current Stock Price: $80.48

Cost Basis: $84.57

Action:

  • Buy to close the MU Jun Week Four (6/25) 80 Call for around $0.89
  • Sell to open the MU Jul Week One (7/2) 84.50 Call for around $1.06
  • Set your initial credit limit at $0.17, but adjust as needed to roll today

New Cost Basis: $84.40

Expiration: After the close on Friday, July 2

Potential Rate of Return: 0.1% in 107 days, or 0.4% annualized, if shares are called away

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