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Tuesday, October 9, 2007

My first Google (GOOG)!

At the opening bell, I decided to get into Google (GOOG) today for one stupid reason! I think it will top the $600 mark today!

Indeed, it passed $600 mark before I switched on my laptop at 10.30pm (or 10.30am ET). I decided to buy an October 620 Call option (2 steps out-of-the-money) at when the stock price was slightly below $599 and it cost me $8.30.

With a opening bell gap up of $0.95 and fulfilment of The Chicago Trick slightly at around 1.30pm ET, I continue to hold when GOOG hit new high at 602.41, 602.90, 603.41 then 603.9496.

Time to go to sleep! At $603.51, I sold the position at $9.80 made a $150 profit (18% profit for my first GOOGLE!). GOOG continued to rally to the $609 region and the option i trade hit around $12.50 bid price.

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