Here’s an interesting article about the recent activity in GOOG options (free sub required):
Pete and I have noticed unusual (read: MASSIVE!) out-of-the-money options trading in Google, contributing to an explosive move in the underlying stock. Why is that? Because short sellers are taking major heat from shares already sold at lower prices. And a good many of those short sellers remain convinced that GOOG will see a correction, so they are not buying in their shorts. Instead, they are buying call options above the present price to limit further losses, should the search engine keep chugging higher. [read the rest...]
Update: Google (GOOG)
Trader Daily has publish an interesting post about Google (GOOG). There’s a brief summary on Trader Mike’s blog.
I personally consider shorting Google (or buying put options) if it hits $300 (and doesn’t breake it quickly) or falls below $280 supp…