I spotted a great trade and wanted to send out a quick alert. When I first spotted it, it looked like volatility had pushed the premiums up so much it was to expensive. But I found the perfect strategy to grab the move and not put too much on the line to get the win.

Google has had a $70 correction in 7 weeks off the May high till last week’s low. Looks like to me that low is going to hold. I like long Google stock ($393) in front of last week’s low as a stop loss. Call options are highly priced because the stock is volatile. A vertical call spread would be my favored option play. 

Thanks,

Joe