Sold My Marvell LEAPS

In bought 10 contracts of the Marvell (MRVL) 1/21/22 $25 Calls back on 10/22/19. I paid a premium of $5.20. Today the market is up and MRVL is up $1.75. Since I’m in this position for 7 months, and it’s at it’s high since 2006, I decided to grab some profit. I love this stock and I plan on being back in soon. I feel there might be a pull-back. At least I hope, because I want to get back in. This stock is a big player in the 5G field. You know I like to take profit, especially in these crazy times. I hope to get back in with the stock between $26 and $27. If it doesn’t get down there this sale could be a mistake. But I did stick $3300 in my mattress.

10/22/19 –  Buy to Open 10 MRVL 1/21/22 $25.00 C @ $5.20 

5/20/20 – Sell to Closed 10 MRVL 1/21/22 $25.00 C @ $8.50

Profit +$3300

This is another great example of the power of LEAPS. As you know I don’t buy short term options but LEAPS are great investments. This was a 7 month investment and my Rate of Return is 63.5%. Any way you look at it, this was a great investment. Do you homework on LEAPS!

Successful Trading,

Steve

The Options Coach