The thing about the straddle is that you're assuming a fairly neutral opinion on direction and you're also assuming pretty high volatility. Basically in a month and a half you can make $12K, more than double your investment, but that requires the stock go to zero (not likely) or to $10. The stock triples and you make the more than double, in that month and a half. Or the stock goes down 100% to make that same money.
If you're feeling positive on the stock, however, which I think you said you were, yesterday, a calendar spread might make more sense. For example, say you go long July and go short May at the same strike, with more calls than puts. That would be a bullish position, but it would be hedged. To me that makes more sense than the straddle.
Thoughts?
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