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OIB Trade Alert: MRVL, TWTR

I am recommending we roll our Marvell Technology Group (MRVL) put out one week and to a higher strike. This will allow us to turn our net debit into cash in hand.

And let’s close Twitter (TWTR) early. We have a terrific profit after just three days in the position.

MRVL Jul Week Five (7/30) 59 Put

Current Stock Price: $59.54

Net Debit: $0.82

Action:

  • Buy to close the MRVL Jul Week Five (7/30) 59 Put for around $0.23
  • Sell to open the MRVL Aug Week One (8/6) 60 Put for around $1.22
  • Set your initial credit limit at $0.99, but adjust as needed to roll today

New Cash in Hand: $0.17

Expiration: After the close on Friday, Aug. 6

Potential Rate of Return: 0.3% in 172 days, or 0.6% annualized, if this option expires worthless

TWTR Jul Week Five (7/30) 66 Put

Current Stock Price: $70.37

Cash in Hand: $0.69

Action: Buy to close the TWTR Jul Week Five (7/30) 66 Put

Current Option Price: $0.03-$0.04

Recommended Limit: Set your initial limit order at $0.04, but adjust as needed to close today

Profit: $0.65, or $65 per contract

Rate of Return: 1% in three days, or 120% on an annualized basis

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