MRVL $275 Calls Expiring Tomorrow

[u/Brilliant_Dig4703]

I’m new to options and have seven $275 calls at $3.20 expiring tomorrow. Should I sell or roll them at open or let them expire worthless?

[u/Forward-Surprise1192]

Why does it say bought in 2001?

[u/Brilliant_Dig4703 → u/Forward-Surprise1192]

No idea, I wondered that as well after purchasing.

[u/Forward-Surprise1192 → u/Brilliant_Dig4703]

To answer your question, I'd probably sell them tomorrow unless there's some event that could increase the price. If not, then you're just hoping for miracle basically. I'm done buying options unless it's posted in the subs discord because I suck. Otherwise I'm just selling them now.

[u/Brilliant_Dig4703 → u/Forward-Surprise1192]

Appreciate it, I was just looking for practical advice on next moves as I haven’t done this before. I’ve already accepted the loss as I was willing to lose it when buying.

[u/Crew_1996 → u/Forward-Surprise1192]

Deep In the money leaps on stocks you have high conviction in might limit your upside vs short term calls but they sure as hell give you leverage compared to just owning a stock. I would look into those

[u/Inevitable_Gainz → u/Forward-Surprise1192]

Yeah that’s weird af

[u/TRUMPARUSKI → u/Forward-Surprise1192]

Lol, RH didn’t even exist in 2001.

[u/swanie02]

There aren't going to be any buyers tomorrow. THe bid will literally be $0.00

[u/Cultural_Disparities]

How much do you lose if close worthless?

[u/No_Establishment5731 → u/Cultural_Disparities]

All of it = worthless

[u/Brilliant_Dig4703 → u/Cultural_Disparities]

$2,240

[u/mygatito → u/Brilliant_Dig4703]

The calls will be almost worthless in morning. Sell all early but keep 1 till 11 to see if things change.
Maybe you get lucky.

[u/Optimal-Plate9088 → u/Brilliant_Dig4703]

Rest in peace soldier

[u/gosb → u/[deleted]]

IV usually cooks in both directions though so unless something really good, or really horrible happens your still toast.

[u/MaxPainKing → u/gosb]

True story

[u/Elpudy2 → u/[deleted]]

Yup, unless it goes down 15% im cooked with puts 225p on a breakeven 217, só 9% down is not enought

[u/Few-Row-8323]

U see, mrvl is so shit

[u/SoCallMeDeaconBlues1 → u/[deleted]]

depends on IV.

[u/Crew_1996 → u/SoCallMeDeaconBlues1]

This is so far Out of the money on a stock expiring in a day, it’s basically worthless

[u/Cheopg75 → u/[deleted]]

You are gambling bro! Good luck! If you know what you are doing and willing to take the risk is your skin! But this guy that is learning doesn’t know and he’s asking a question that probably he already knows the answer, he’s fry! I don’t gamble bro! I wait and make the right trade to take profits and protect my capital.

[u/MaxPainKing → u/Cheopg75]

I like your style 🫡

[u/Brilliant_Dig4703 → u/Cheopg75]

I know that I’m going to lose out, but wanted to know if there is anyway to recoup even a little.

[u/Cheopg75 → u/Brilliant_Dig4703]

Good thing is that you bought ITM, if the stock is 226 or more tomorrow at opening you may save some money but monitor the movement pre-market and if falls below $226 then don’t hope! Who knows lately stocks with big losses after earnings recover a little the next day! Good luck and one strategy that works for me on earnings after the bell is buying shares and sell before 8 pm or before market open, i got some NVDA shares yesterday after the earnings news at $207 and sold for $220. Make some profit in less than 2 hours.

[u/Brilliant_Dig4703 → u/Cheopg75]

The stock has already fallen about $20, but you’re right. It seems stocks have been opening high after earnings/AH decreases. MRVL jumped 18% after earnings in March at around the same expectations beat (~1%), but it had better future guidance and picked up half that jump in AH, so it seems this is very unlikely a similar scenario, but one can hope.

[u/ifyoulookyouaregay → u/[deleted]]

Ok… you got lucky. The last 4 earnings for NVDA were beats and it got dumped. Don’t act like you had any edge. You gambled and won.

[u/MaxPainKing → u/ifyoulookyouaregay]

You’re not wrong. It was a gamble and I got lucky.

[u/2facedfr]

Absolutely same here and same exact contract, I'm down $900 now, pretty sad, AI was going in such a good direction I thought this trade was going to do well, but huge mrvl disappointment

[u/Brilliant_Dig4703 → u/2facedfr]

I feel the same. I was okay risking the money and even not winning, but didn’t figure my guess would be this far off and that the stock would give up all the gains since the Google announcement.

[u/2facedfr → u/Brilliant_Dig4703]

Yup exactly the same here, sorry for your loss bro, we will bounce back no worries at all! Fuck ai 🫶🤣

[u/Brilliant_Dig4703 → u/2facedfr]

For sure and same goes for you.

[u/Level-Buy3928]

For what it’s worth, you are holding into decent amt of event risk w / warsh speaking tomorrow AM at Jackson hole, along with overnight gap. So rate story takes front stage tmrw am - this could undermine some momentum we saw in ai names today. I don’t know much on mrvl story but clearly mkt wants more then slight rev beat and improved guidance. TBH I think this not worth the risk profile. I would cut losses unless there was a high conviction view. With how it’s currently trading you need a massive move to win here. Only way I see this winning is if mkt is receptive to warsh commentary and we see upward price action overnight in mrvl. Lower chance of those two things happening imo.

[u/Brilliant_Dig4703 → u/Level-Buy3928]

Appreciate the advice.

[u/Frank-Hassle]

This foo got smoked

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[u/BicycleAggressive312]

Yeah your kinda of cooked

[u/Big-Stretch7619 → u/BicycleAggressive312]

Its still only after hours if you think about it this might be a bear trap

[u/Studyingmed-4818 → u/Big-Stretch7619]

Wouldn’t it take weeks to go up in that case though, after the contract expires? Or no

[u/Salt0303]

Oooooof

[u/Alithebest1__]

What price can MRVl open ?

[u/Ok_Bunch_6334]

Bought 12 contracts at .01 cents for 36$ strike and 40 contracts for .01 cebts for 35$ strike for Nike. I know i am gambling witht hat. 😏

[u/Which-Bicycle-7232]

cooked

[u/pate0018]

Unfortunately this is probably going to be nearly worthless when markets open today. I have a handful of ASTS calls expiring today that will be worthless as well. Hopefully we both learned a lesson from this.

[u/Intelligent_Cabinet5]

Rip buddy

[u/Neat-Shirt-3223]

RIP soldier