Looking at GOOG Options.

[whodi]

Looking at GOOG calls with the strike price of 370 expiration DEC 8th

Here are the closing prices. This monster will comeback and you can get it at a nice premium IMO



http://finance.yahoo.com/q/op?s=GOOG&m=2008-12

[whodi]

Sorry about the double post. Went to edit and I guess I submitted it 2x.

[whodi]

Picked up 30 contracts last week on the GOOG Calls strike price of 350 expiration Dec 8th. The next day after posting it started taking a burger with the market, so I waited as it kept dropping to get a better price on my calls. Picked up the calls in the mid 30s. I mentioned in this thread I thought GOOG will make a strong comeback and you can get in at a premium and the earnings are an added bonus up over 35 points near 390 in after hours. These options are going to fly boys. This is an easy 6 figure profit.


http://finance.yahoo.com/q/op?s=GOOG&m=2008-12


GOOGLE
(NasdaqGS: GOOG)

After Hours: 389.99 Up 36.97 (10.47%)7:59PM ET

[whodi]

Originally Posted by whodi

Picked up 30 contracts last week on the GOOG Calls strike price of 350 expiration Dec 8th. The next day after posting it started taking a burger with the market, so I waited as it kept dropping to get a better price on my calls. Picked up the calls in the mid 30s. I mentioned in this thread I thought GOOG will make a strong comeback and you can get in at a premium and the earnings are an added bonus up over 35 points near 390 in after hours. These options are going to fly boys. This is an easy 6 figure profit.


http://finance.yahoo.com/q/op?s=GOOG&m=2008-12


GOOGLE
(NasdaqGS: GOOG)

After Hours: 389.99 Up 36.97 (10.47%)7:59PM ET

[ZoomVT]

hoping you are right bro. i got them at an average of 342. would like to see a big jump.

[whodi]

My options are blowing up. Up over 60% on my Dec 8th Calls. Going to start selling some of my contracts shortly.

[Goods]

Nice work Whodi and Zoom. Check out that double bottom of the 1 month chart. Nice quarter too. Just need a solid few bull days to push it loose.

**edited-- put 6 month chart, meant 1 month

[ZoomVT]

i got half of my position stopped out at 382.62 (+63.68).
i have a loose stop on the rest. my avg is 318.92. I though about having a tighter stop but with the way the market moves i really dont want it to hit unless it really drops.
what do you guys think?

[Wreck_IT]

how do you figure 6 figure profit on 30 contracts??

Originally Posted by whodi

Picked up 30 contracts last week on the GOOG Calls strike price of 350 expiration Dec 8th. The next day after posting it started taking a burger with the market, so I waited as it kept dropping to get a better price on my calls. Picked up the calls in the mid 30s. I mentioned in this thread I thought GOOG will make a strong comeback and you can get in at a premium and the earnings are an added bonus up over 35 points near 390 in after hours. These options are going to fly boys. This is an easy 6 figure profit.


http://finance.yahoo.com/q/op?s=GOOG&m=2008-12


GOOGLE
(NasdaqGS: GOOG)

After Hours: 389.99 Up 36.97 (10.47%)7:59PM ET

[Goods]

Not positive about options so correct me if I'm wrong...

1 contract is 100 shares / 30 contracts = 3000 shares.
Strike price of 350 gives 40 points profit at 390. 3000 x 40 = $120,000 (minus premiums paid)

[Wreck_IT]

correct me if I am wrong...
so each contract was ~$35 x 100shares or $3500 each x30 =$105,000
So the (minus premiums paid) is $105,000. So basically you paid 105K to make 120K?

[whodi]

1 contract = 100 shares. I owned 30 contracts, so that is equivalent to 3000 shares. This is a link to the close price of the Dec 08 Calls that I own.


http://finance.yahoo.com/q?s=GGDLJ.X It closed at 52.87 but was close to 60 during the day.

I bought my contracts on average around 34.20, so I am up $18.67 on each contract. I own 30 Contracts, so if you multiply 3000 X $18.67 = $56,010 before you take out commissions.

$34.20 was the average price I paid per contract, so the total investment was $102,600 on 30 contracts (minus premiums/commissions), so you can say I am up $56,010 on an investment of $102,600. I am not up 6 figures but IMO I think this will end up easily being a 6 figure trade. I posted before GOOG is a great buying opportunity at the levels it was at and kept dropping and it rebounded just like I thought and the earnings were key in it rebounding even more. I already sold some of my contracts on Friday and took advantage of the new intra-day highs in the afternoon but this gives you an example of how options are calculated. Options are VERY RISKY but very rewarding as well. Once the stock gets over your strike price, your options usually move dollar for dollar for every dollar the stock moves up. I hope this helps you all understand a little bit more as far as options work. Options can be very confusing and hard to understand especially if your new to trading. I recommend buying some books on options because there is a lot of money to be made in options but I don't recommend trading options until you 100% have an understanding of how all options work because you can get murdered trading options.

[whodi]

Calls are looking good again back in the 40s. I bought more contracts the other day on the nice dip where the 350 calls for Dec dropped in the high 20s but I grabbed them in the low 30s.