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March 16, 2010
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NBTY Inc. (NTY) Closeout
January 29, 2009Dear Fellow Options Traders,
On Jan. 14, we recommended buying the NBTY Inc. (NTY) Feb 15 Puts for $1.15 or better. (We put it on our Open Trades list at $1.20.)
Although we saw persistent and unusual option buying activity, the stock is up sharply on a missed earnings report.
There are roughly three weeks to expiration. Given the strength of the stock, its separation from the strike price and the positive stock reaction to a missed earnings number, we think it is prudent to recover what we can from this position and move on. We recommend closing the NTY Feb 15 Puts (NTYNC) for 15 cents or better.
Have a great day trading.
Nick Atkeson and Andrew Houghton
Editors
Options Trader
