Had to come back to the GOOG calls...it's going higher again and this is easy money I think again...too many wanting to buy this...might go on a tear now that it's hitting new highs for the day. Cheers!
550 seems like an easy target within the next few weeks only 30 points away and google can easily go up 10 points in a day
The company is still a darling because their top line growth kicked ass and I actually saw some analysts raise their estimates...those same fucks will be dip buying this stock no matter what. It's going to see $530 at least next week probably unless there is complete market shutdown. I'll make an easy $10-20k me thinks in the next week. Man, if only patience were easy and waiting around for opportunities like this was a simple task and not some hard to master psychological feat.
Kick ass trade. Vols drop 1 pt in Jan 08, spot wtf down, still a winning trade. This is what options are all about. Screw direction.
Thanks. Vols are running 27% on the 550 strike, down from 30% when I shorted. Key to remember that the straddle was short delta due to the implied forward to Jan08 on carrying the 550 strike. It would not have earned a penny had we rallied 30 on spot.