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August 1, 2010
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Buy to Close Hain Celestial Group Inc. (HAIN) Short Calls
January 08, 2009Dear Fellow Options Traders,
On Oct. 21, we recommended buying the Feb 25-35 bull-call spread in Hain Celestial Group (HAIN). Like almost the entire market, the stock was hammered in the market crash of October/November of 2008.
After hitting a low of close to $14 per share on Nov. 21, the stock has posted a steady rally to about $20 per share. With the stock on the rise, we would like to remove the upside limiter to this trade while it is still worth 5 cents or less.
With a February expiration date and the stock on the mend, our plan is to continue to hang in there with the long Feb 25 Calls (QQHBE) position as we are moving closer to going into-the-money. In the meantime, we recommend buying to close the HAIN Feb 35 Calls (QQHBG) for 5 cents or better.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
