Marvel Tech (MRVL) Make Money Selling Calls
Marvell Technology Group Ltd (MRVL)
Options traders are augmenting bearish stances on the provider of semiconductors. Selling in- and out-of-the-money call options on Marvell Technology Group has been a popular pastime for some pessimistic players recently.
- Investors sold at least 2,700 calls at the August $17 strike for a premium of $0.66 apiece.
- They also sold 2,100 calls at the lower August $16 strike for an average premium of $1.13 each.
- Call sellers at these strikes keep the premium received on the transaction as long as shares fail to rebound above the strike prices described through August expiration.
- Options traders expecting Marvell’s shares to continue to decline sold at least 3,300 in-the-money calls at the August $15 strike to pocket an average premium of $1.74 each.
- In-the-money call sellers walk away with the full premium received if shares of the semiconductor company decline another 5.6% to trade beneath $15.00 through expiration day in August.
These are straight call sales counting on the stock continued decline. If they own the stock it is like a covered call play.
If they don’t own the sock, they have the money to pay out if they are wrong.
We like the movement of the stock continuing down. Considering it’s beta is at 1.70, it’s volatility is 70% more than the market as a whole.
This may be a factor in the selling. The selling of the 17 strike calls seems very safe considering the market’s direction and the volatility of this stock.
We could begin our upswing like we have been on this stock. 16 strike we still think is good. If we continue in this pattern, we can hit the ’16′ level by early August well before expiration. 15 strike is a bit more of a gamble. It only takes one upward movement on a continued downward trend and we may not hit the ’15′ level by August. We would have like to seen this one played more in September.
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