My two cents.
If Google opens at 365, you can buy an April bull call spread (selling the 360s and buying the 370s) that will get you a dollar for every dollar risked if Google is at or above 370 on April 21. So that's one approach if you want to take advantage of an upward trend right away.
Otherwise, sit back and wait until the 20th and buy calls $30 OTM. Mabye hedge them shorting calls $60 out. Maybe not. Depends on your risk tolerance and your target. I almost always hedge -- at least partially.
as our buddy gin said a while ago, it was up around $8, then down almost $60, then finished down $27 and you are proud of a little upward movement of a few pennies in AH?
I want to love GOOG, but right now, my views of this issue are very much less sanguine than before. Until the next ER, when Google will be able to prove just how solid the fundmentals are (and I believe they are), betting on the share price to go up is simply not a safe endeavor. Believing the company is sound and which direction the share price is headed prior to the next ER are two VERY DIFFERENT things, especially given the last ER, and today's boneheaded comments by Reyes.
I will not be long in GOOG without apprpriate hedging--certainly not before April ER, and likely never. In fact, I am likely to make a bet the share price drops significantly from here prior to April 20. Like I said, I want to love GOOG, but reality is reality.