OK, now that I got creamed on the GOOG call options, watching them crater, selling them low, and then watching GOOG cruise back up past my original entry point....
I did this trade blind. Never looked at the daily charts, only the one-minute and five-minute which drove me crazy. Time to back off to the overall trend level and use the dailys with a 10% stop to start, 5-10K buys in the play account until we see how it works. This could be a great long-term play, but must adjust for risk as we near the expiration week.
Set up a watchlist with GOOG, IBM, GS and other optionable candidates to spread the risk. Also check out the new S&P ETF's as they get option volume.
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