This post is restricted to paying members. To follow are specific new trade details:
Stock / Symbol: Marvell Tech / MRVL
Option Strategy: Synthetic Long
Trade entry date / price: 12 Dec 2019 / $25.60
Price at this post: $26.69
Reasoning: MRVL hit our price target of $27 today, so we're going to take profits. The current Greeks are: 59.5 Delta, -0.2 Theta and 1.6 Vega.
Trade Details:
BTC 1 MRVL 15May20 23 put
STC 1 MRVL 15May20 29 call
For a min net credit of $0.60 per contract (GTC order, limit order). The mid is currently at a debit of $0.66. I was filled at $0.65.
Analysis:
Max Risk: $2300
Max Reward: unlimited with MRVL trading over $29 by May 15th
Profit Range: MRVL at/over $29 (pre commissions) by May 15th
Target Price: $27 (by mid January)
Suggested Stop @ $22.99
Realized Profit / Loss: $65 or 2.8%
Trade Commission: $6
