You are not really recommending hanging onto calls for 2 more percent and then switching to puts, are you? What makes you think the breakout ends at 419. I see a clear field to 435 before another chance to go puts. Every day that it closes above 405 solidifies this.
This is in an 8-10% upswing from 395, minimum, you are advocating flipping positions and getting destroyed by premium decay. Believe me, I was sure that 405 was the upside resistance, when it closed at 404.7 tuesday and confirmed yesterday, I sold my puts and went long apr 400 calls. I even added some today at the open. Trend is up, I see no stops at 419.
I hope you're right. But, at the 419 area, we will be up an incredible $90 a share since the 330 area bottoms. I'm still long tons of call options in all months, even though I've taken profits at times on SOME portions of those along the way a couple times (and I've added back in and opened new positions as well, though).
I will PROBABLY dump at least 75%-90% of EVERY call I still have if we hit the 419-422 area....we'll see.
TOO much gain there to fart around with. I can always come back in with new leverage. Some of my positions are WAY too deep ITM now for my liking (leverage flattens, too much money tied up, etc)...and were mostly bought when they were OTM!!
Get the picture??
Back pedaling or not, I was merely saying that it looked like a breakout was imminent from the, then, 408-409 area up to the 414-415 area.
Doesn't take much volume. This thing has a VERY small float and is thinly traded now.
Huh?? I don't understand your post at all. Back peddling?? My point was to respond to your "see I'm right" post by saying the volume (YET) does not support a "breakout". May happen, but GOOG looks toppy here. A Nasdaq drop will reverse Google's rise, at least temporarily.
"Then, I will probably let them destroy all the time value on the OTM April calls right up until the last minute on the 20th...."
THIS IS A UNIQUE SITUATION AS EARNINGS IS RELEASED A DAY BEFORE THE APRIL OPTIONS EXPIRE.
I DONT THINK THE APRIL OTM CALL/PUT WILL LOSE MUCH TIME VALUE UNTIL FRIDAY MORNING.
Who is T.A. go to yhoofinace goog front page. On the left side is CHARTS. you will find T.A. there. The only reason it works at certain points is that there is a critical mass of Traders who use it and advise the major funds and Hedgefunds. etc...