Let’s book hefty profits on our Marvell Technology (MRVL) and Sunrun (RUN) positions.
MRVL Nov Monthly (11/19) 71 Put
Current Stock Price: $73.42
Cash in Hand: $0.91
Action: Buy to close the MRVL Nov Monthly (11/19) 71 Put
Current Option Price: $0.14-$0.19
Recommended Limit: Set your initial limit order at $0.17, but adjust as needed to close today
Profit: $0.74, or $74 per contract
Rate of Return: 1% in nine days, or 42% on an annualized basis
RUN Nov Monthly (11/19) 55 Put
Current Stock Price: $55.64
Cash in Hand: $2.15
Action: Buy to close the RUN Nov Monthly (11/19) 55 Put
Current Option Price: $0.80-$0.90
Recommended Limit: Set your initial limit order at $0.85, but adjust as needed to close today
Profit: $1.30, or $130 per contract
Rate of Return: 2.4% in 13 days, or 66% on an annualized basis