Closing BOTH our MRVL and MU put positions.
Both Marvell Tech and Micron Tech have moved lower as the overall market came under pressure this month.
Since both of these positions are set to expire at the end of the week, we’ll go ahead and close our plays and free up our capital for new income opportunities.
MRVL rallied more than 8% today, giving us a chance to close the position with a small profit.
And while MU will be closed out at a loss, today’s rebound helps to cut that loss down to a more reasonable amount.
Best of all, we’ll be able to use the capital that was set aside for these plays as collateral for new plays that are setting up.
- Buy (to close) our MRVL March 18th $65 Put
- Limit $1.95 or less
~~~~~~ - 15:26 Executed
- Bot MRVL March 18th $65 Put @ $1.59
ALSO
- Buy (to close) our MU March 18th $85 Put
- Limit $12.20 or less
~~~~~~~ - 15:26 Executed
- Bot MU March 18th $85 Put @ $11.90