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Hari Swaminathan
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OptionTiger.com is founded by Hari Swaminathan, an entrepreneur, everyday person and a self-taught Options trader for over 5 years. Hari also writes the blog at OptionTiger.com, an insightful commentary of the most important issues in macroeconomics, investing, trading, Option strategies, Index... More
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  • GOOG Bear Call Gone Awfully Bad… 0 comments
    May 16, 2013 6:08 AM | about stocks: GOOG, ITM

    This post was originally written on March 5, 2013 at http://www.optiontiger.com/goog-bear-call/

    Awesome GOOG Bear Call

    Okay which one is it ??

    In the Trading Ideas service, we put this GOOG Bear Call at 820 / 830 two weeks ago when GOOG was at around 785.

    It moved up steadily, and we did 2 adjustments.

    1) We bought 2 contracts of the ITM Call at 780 about a week ago when GOOG was at 800.

    2) Yesterday, we took off 1 contract of the 820 short call for a loss of $400. So we were left with -9 of the 820 and +10 of the 830.

    Today GOOG blasts off to 835. But look at how the adjustments worked out, even though the Bear Call went awfully bad. The 2 contracts of the ITM 780 Call produced profits of $4200 completely overcoming the Bear call.

    (click to enlarge)GOOG-PL

    We closed the position for a total profit of $1500. Amazing trade !!

    Get Trades and adjustments like this on the Trading Ideas service…

    Check below.

    (click to enlarge)GOOG-chart

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: Bear Call, GOOG, GOOG Bear call Stocks: GOOG, ITM
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