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.
"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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