The 3.5% put premiums at the money for GOOG certainly are attractive.
And now at about 1100 when I look at the Finviz chart you can imagine GOOG being at the low range of an upward channel. Do you trade the mini's or the standard options? I find it interesting that the premium percentages are about the same for both the standard and the mini's. Looks like earnings are 1/30. Earningswhisper is projecting a nice beat of the estimates. Will you hold a position through earnings or wait until after earnings?
I trade options on stocks that have favorable outlooks.
Last month I sold a put on IEP that expired Jan 18. Due to the fallout from NUS in China, IEP fell just enough on January 18 expiration day to have the put exercised. So after owning it I sold a Feb 22 covered call. I bought it back yesterday after a gain of 80%. So I still own IEP and can write another Feb 22 or later call after IEP gains back some ground. The reason I started trading options on IEP is the favorable ratings such as Fidelity 9.4 on 10 point scale, Value Line favorable, Navellier buy rating, Ford equity strong buy, Jeffries buy, etc.
Also the premiums on puts and calls are favorable at about 3 percent when one strike OTM.
I also think that Icahn, who owns 88% of IEP, is pretty good as an activist at getting corporations motivated to reward shareholders.
I see a strong support line at about 106.