Our Marvell Technology (MRVL) put is well in the money. With the company scheduled to report earnings on Aug. 24, let’s roll our put out four weeks and to a lower strike.
Current Stock Price: $60.43
Net Debit: $9.14
- Buy to close the MRVL 11 Aug 64 Put
- Sell to open the MRVL 8 Sep 61 Put
- Set your initial net credit limit at $0.40, but adjust as needed to roll today
New Net Debit: $8.74
Potential Rate of Return: We are targeting breakeven for this position