Whatever the earnings is, if it can push with volume through the 430 and beyond, target it 550. If not then back to the bottom of the symmetrical triangle around 370.
October 470 Calls about $1.00, if GOOG hits $500 after earnings I am thinking of buying 10 contracts for $1000. Hopefully sell on Friday for $30,000.
Do you really think it's going to move 80 pts in less than 24 hrs??? Hey it's possible... what do I know?... Additionally, the implied volatility on the october options was somewhere around 70% yesterday when I checked.... not exactly cheap.
Right now GOOG looks like it will do nothing much, if you look at the charts. I think the earnings has already been factored in a couple weeks ago. The chart pattern just looks a little bearish right now. RSI has touched 70 and is retreating..again. (Repeating pattern on the RSI and the CCI). The only Plus is it has broken a lower top trend line, but I would be cautious. Here is the movement GOOG has had after the last few earnings reports....
What might be semi reasonable... buy a closer strike and sell the next strike out. Like buy 450 C and Sell 460.