Friday, April 15th, 2016

GOOGLE December Trade

The markets sold off heavily towards the close down 332 points, profit takers and hungry traders going home with pocket full of change to pay for milk and coffee. BEFORE that happened GOOGLE shot up to 324 and as a lurking opportunist I took profits, and I was right. Right after that Google fell apart in the last hour sell off and went down to 310 and I immediately sold another batch of puts in the selling vortex 3 minutes before the bell. Given below is a free trade. The last trade is good for next 1-2 trading days.

11/13/08 SELL 5 GOOG DEC 250 PUTS @6.60
11/14/08 BUYBACK 5 GOOG DEC 250 PUTS @5.40

Net profit = $ 1.20 x 5 = $600

11/14/08 SELL 5 GOOG DEC 250 PUTS @7.00 Net credit = $3500
Theta= $25.34/day
Delta= 7.41
Probability= 85%

GOOGLE held up really well in today’s onslaught and the chart patterns look very promising. We shall exit or adjust this trade should GOOG close below 300. Our short strike is almost 60 points away to do any damage. I expect coming week we should see GOOG in the 330-340 area.

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Comments

4 Responses to “GOOGLE December Trade”
  1. I agree this, we should help google or cooperate with google…………

  2. thanks for such informnative information

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