Our Marvell Technology (MRVL) put is well out of the money after the stock rallied this week.
Given that the company is scheduled to announce earnings on May 25, we are simply going to watch the put expire worthless. Once we see how the market responds to what the semiconductor maker has to say, we will decide what our next move is.
Current Stock Price: $45.01
Net Debit: $13.28
Action: Watch the MRVL 19 May 40 Put expire worthless