17
MRVL IV play for next week?
Looking at $MRVL, after today's +9.85% move to 237.27, implied volatility has certainly ratcheted up. I'm seeing an interesting setup for next week's options, particularly for anyone playing an IV crush scenario. The stock has had a solid run from its low of 228.1001 today, hitting 245.489 at one point.
My thought is that if we see some consolidation early next week, and $MRVL doesn't break above 246-248 convincingly, a short straddle or strangle around the current at-the-money could be a decent play into expiration. The risk, of course, is a continued strong trend either way, particularly if it breaks above that 248 mark with momentum or dips significantly below 230.
0 comments · 17 points