Another GOOG put

This false jump in the market is too funny. I mean, it was a real jump, but not something that is going to be sustained. Although I really am hurting on my BIDU put, there’s always future hope (for at least a couple weeks). I’m not sure but I might just cover the BIDU put at some point today, but for now it’s GOOG time.

With the DJI up over 250 points before the opening this morning and the NASDAQ up crazy, just like the S&P, I figured it would be a temporary up day but not full day 300 points strong on the DJI. Why do you ask? Because of course, there was massive short covering from all the non-professional traders who got scared when there was a small jump in the market.

This isn’t sustainable right now. This quarter is still for the bears, no bulls will reside happily until at least next month.

Here’s what I did…

Buy:
GOOG Apro08 $460 put (GOPPL), 1 @ $42.50
stock price entered $430.77

This is a little bigger gamble than I would usually take with a GOOG option, but I’m confident on this trade. Follow me, if you dare.

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Posted: March 11, 2008 at 9:46 am

Posted By: Michael

News Category: GOOG, Options, puts

 

 

One Response to “Another GOOG put”

  1. I had the same thought about the mklt today. Buying a put on GOOG at this point is (for the lack of a better word) very Courageous…

    fiaz on 11 Mar 2008 at 12:53 pm
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