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Follow up to post on Google Yesterday

|Includes: Alphabet Inc. (GOOG)

For those of you who caught my blog post or twitter comment on a speculative play on Google calls before earnings (expiring today) -- now is a great time, and your last day to play profits.  If we look at what made these such a big win it was the following 3 things:

1) Everyone under owned GOOG.  The stock has been flat on the year and even now the equity is under owned.  Since the fight with China, this is the first time it has regained it's footing.

2) Generally a bad day in the equity markets with concerns about mortgages getting put back to BAC and JPM.  

3) As cited in the original post, the advertising market is very strong.

I ended up with a spread (short a put spread) and long calls and common before the earnings.  At this point, I've gone further out and absolutely expect the stock to continue to gain for the next three quarters as new assets start to monetize, Android continues to do well, and the advertising market continues to grow.   As a consequence, I've added some longer term leaps/calls to the position.

Original post pre earnings here.