Sold 1×100 MRVL Dec10 $18 Put @0.66
Bought 10×100 Citigroup Nov 2010 $4 Call
C was down 5%. seeing good opportunity to buy a $4 November call for 18 cents for earning plays. C's earning on oct 18
Sold 150 shs of Marvell Technology (MRVL), covered 2×100 Jan 2011 MRVL $20 Call , shorted 200 shs of Marvell Technolgy (MRVL)
we were long 150 shs of MRVL while shorting a Jan 2011 $14 and $15 Put and a $20 Call.
today, it was reported that MRVL's chip being used in Research In Motion's PlayBook is buggy and its rumored that RIMM is replacing it with TXN's chip for the 2nd gernation playbook.
MRVL has reached double top at $18 and we believe it could turn back downwards.
We closed out long stock position and the short call.
Sold MRVL @ $16.71 : P&L +$300
Covered MRVL Jan 2011 $20 Call @ $0.35 : P&L + $73
on top of that, we have just shorted 200 shs at $16.70
Sold Mylan (NYSE: MYL) Oct10 $18 Straddle @ $1.10
P&L : $100
