Posted by: ctraderd | April 5, 2013

My $GOOG Play

This afternoon, at around 3:30 P.M. EST, I initiated a long position of 5 GOOG AprWk2 Puts at $3.50. my original plan was to hold only these over the weekend, but I noticed that GOOG was gaining quickly into the close, so I decided to initiate a long position of 1 GOOG AprWk2 780 Call because the 765 Calls were ~$19.00/contract, and hadn’t had a fill since ~$16. I opened up this position as a hedge to my short position, just in case GOOG spikes on Monday. I am still leaning towards a big fall on Monday, but this way, I will be hedged no matter what happens. My goal is to sell the losing position right away and let the winning position ride into the close and then sell it then. I will be watching the market more than usual in class on Monday to make sure everything goes as planned with this trade, whether GOOG bounces or tanks. To those of you who are also holding positions over the weekend, I wish you luck. Everybody have an excellent weekend!

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