The stock has moved up in price to the $4.50 range. Right now the account only owns the stock. The opinion is that the stock sold off too much in the last week. It was able to capitalize by buying back the option at a profit.
There will be three conferences and an earnings announcement in the next two weeks which provides for a nice marketing opportunity for the company and the stock to move up.
The July option moved back up into the $0.50 - $0.75 range. The option will probably move at a 50% level to the stock at this point since there is no time value attached to the option.
The account feels bullish on the stock and will continue to monitor the trade.
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