HLF Earnings Trading move analysis

1) HLF Options OI: P/C ratio around 2.5. Option premiums are higher than usual. Max upmove(if any ) this week is @ 60. Max downmove (if any) @43. 

Strike	Puts	Last	Chg	Bid	Ask	Vol	Open Int
43	11/7/2014	1.5	-0.4	1.28	1.47	2480	99
44	11/7/2014	1.57	-0.64	1.45	1.68	398	163
47	11/7/2014	2.32	-0.58	2.09	2.45	12	44
49	11/7/2014	3	-0.85	2.72	2.99	1189	41
54.5	11/7/2014	5.55	-0.95	5.3	5.6	240	210
	Calls	Last	Chg	Bid	Ask	Vol	Open Int
55	11/7/2014	2.95	0.95	2.75	3.2	36	551
57.5	11/7/2014	2.21	0.93	2	2.23	258	112
59	11/7/2014	1.69	0.62	1.41	1.94	72	242
60	11/7/2014	1.42	0.54	1.17	1.64	35	262

2) Options Max Pain@ 47: http://maximum-pain.com/max-pain.aspx?s=hlf&e=11/07/2014

3) Technically, stock is oversold and medium term technicals are looking for a bounce. Price closed above 5 week/ 5 day High EMAs. MACD is looking good for a reversal. 53.6 level is crucial.  Max upmove(if any ) this week is @ 62-63.(Trendline). Max downmove (if any) @35-36.

Overall, Playing a long straddle with 3:1 call/put ratio seems to be a decent bet. Risky traders can even go for a long strangle with 3:1 call/put.