Jan 27 - Google Follow up

So only 20 days after the Google trade I posted (January 7 - GOOG Trade) it has become profitable enough to close the position. Following the huge run-up in Google's stock leading to steep uptrend lines the stock made a rather fast turn-around to the downside.

Of course I am not saying that this is the beginning of a downtrend for Google, but merely a correction - which happened to make some good money for counter trend traders.


The short position in Google calls, initiated on Jan 7th @ $3.30/share was closed today at $0.05/share for a profit of $325 per contract excluding commissions.... not bad for a position held only for 20 days with no cash capital put up for the trade (margin excluded).