The Nov 380 puts are probably the best buy at the moment, but be aware they expire next Friday. My opinion is the GOOG will correct quickly (next few days) to about $360, putting them $20 in-the-money + any time value remaining. I would however continue to hold any shares held long and ride out the bumps, just in case this scenerio doesn't play out.
wish i bought puts in march 2000 when my jnpr went from 240 to 25. That was based on no earnings and a different time although shorts here think its all the same. I may buy the nov 350 for 5 cents for fun....but never again will i let a large gain go bye...bye.......that would be under 350 with goog.
That is a very good question, I am personally thinking about playing the earnings, earnings last year were Feb 1, so buying Jan put, may not be the best option, So maybe Mar, way way out of the money like 280, I will crash (to about 220-250) but, I dont know the timing and when, its like the musical chair game,