Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

GOOG Bear Call Gone Awfully Bad…

|Includes:Alphabet Inc. (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-PLClick to enlarge

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-chartClick to enlarge

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

Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: GOOG, ITM