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Google Calls

This isn't a heading that will catch your attention. There is always news on Google doing something. This blog is about reacting to a chart formation and is in line with my recent focus on discussing the often dreaded topic of "one-day-options". Look at how Google bounced on Thursday morning.
Something caused the stock to spike first thing in the morning. I don't know what it was. Here was two of it's news updates.
Here is how this series of Calls closed the day on Thursday.They closed at $2.00 and are $.20 cents "out-of-the-money".div class="separator" style="clear: both;">
Let's move forward. Now here is how Google is trading at 9:33: a.m. It's up.
Now this, a suprise at 9:38 a.m.
Look at how quickly these Calls lost half their value. What is the DJIA doing? Not much.
Now this, six minutes later. Look at how quickly the action in the Call options increased.
By 10:00 a.m. they reached a high of three dollars.
Here now is it's five day chart just after 10:00 a.m.
Friday morning one day option trading is full of suprises. Here is a review of today's action.
It was the bounce on Thursday morning which attracted me to this situation.

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