still think goog is over value in the long run. Already sold all my 400 puts and some 340 puts, still own a few 340 puts. If goog moves up more than 5% in less than 5 days, I might short it again.
After giving more thought, I bought a few feb 360 calls for .55 per contract. So now I have a strangle position (340 put and 360 call).
uh? what on earth are u gonna do with those calls, expiring in few days? The premium u paid is gonna go f**k even if the common is gonna kiss the strike at exp: theta pressure will make sure that they won't gain a dime. waste of money.
uh? what on earth are u gonna do with those calls, expiring in few days? The premium u paid is gonna go f**k even if the common is gonna kiss the strike at exp: theta pressure will make sure that they won't gain a dime. waste of money. Definitely he knows that he is a kind of gambling and if he loses he won't hit his head to the wall!! I believe he is right and GOOG can have a big swing that might surprise everyone If GOOG closes at 362.5, he will get almost 500% gain in 3 days!!!. By the way the guy who wrote an article about GOOG that it is overvalued is a kind of backing off and saying that he said this when GOOG was at 475 and his article was published later. That might have a positive effect on GOOG. I could also see the buying pressure from Wednesday.
did you read the latest edition of Barron's on GOOG? I wouldn't buy it.... Did you also read his interview on Marketwatch yesterday? He said my article was old and when I said that GOOG was at 475 and blu blu blu.....
When I said it will close below 350, it was already at 360. I believe today shorts were caught by a correction that I felt it is happening two days ago. Shorts were caught as longs were caught when it dropped. I think it will gradually give back its gain till tomorrow. The guy who bought calls at 55 cents got 900% profit in a day !!!