Marvell Technology (MRVL) has been running up following the release of the company’s latest quarterly results in late May. Guidance for the current quarter and predictions that AI-related revenue will double this year seem to be causing investors to take a renewed interest in shares.
We are recommending a put to sell for those members who have a net debit to work off from our ongoing MRVL position.
Current Stock Price: $59.65
Net Debit: $13.28
Action: Sell to open the MRVL 23 Jun 56 Put
Recommended Limit: Set your initial limit order at $0.68, but adjust as needed to sell a put today
Expiration: After the close on Friday, June 23
New Net Debit: $12.60
Potential Rate of Return: We are targeting breakeven for this position