I agree. Not a good sign for a fad stock when an outperform 235 target is announced and inspires zero movement in the stock price. With 80% earnings growth already factored into the price, is hard to imagine what could push GOOG any higher at this point. I just sold 50 contracts of the Jan 200 call for 3.20. I'll be surprised if it doesn't net $4K today.
If you sell the calls, they erode quickly as expiration approaches -- even when the stock doesn't decline. When the stock drops the price plummets. The goal is to buy them back cheaper to cover your position.
It's very, very high risk strategy (selling naked calls) unless you hedge by buying a call at a higher strike price, though.
Call me a daytrader for the first time. Not proud, but I didn't want to be greedy, either. I covered the Jan 200 calls in about 100 minutes and walked away w/$4K. I'll stand by and watch what happens to my long-term short position for awhile now.