AI
Thursday, August 21, 2003 5:43:21 PM
MRVL Earnings Play Trader Buy set up from 8/20. Good for the move to just under 40 (39.70) and was a two day short and bounce back to 38.75 is trading back at 40ish after hours.
A strangle was suggested on 8/20 however it proved to be an even better set up to short the 39.70 rally.
http://www.marketgems.com/WatchListaugust20ER.pdf
"MRVL can go either way after the report but there is still some “anticipatory upswing” we might get after an early pullback. Note the embedded 15-minute chart on the left.
If MRVL does move up and shrug off a possible early pullback, a strangle of the 35 puts with the 40 calls might be an aggressive play through the report"
A strangle was suggested on 8/20 however it proved to be an even better set up to short the 39.70 rally.
http://www.marketgems.com/WatchListaugust20ER.pdf
"MRVL can go either way after the report but there is still some “anticipatory upswing” we might get after an early pullback. Note the embedded 15-minute chart on the left.
If MRVL does move up and shrug off a possible early pullback, a strangle of the 35 puts with the 40 calls might be an aggressive play through the report"
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