1/31/08
bot +1 butterfly goog FEB 570/600/630 CALL @ 5.75 (mark 562.03)
analysis:
GOOG has been beaten down and I believe the earnings should prove solid. I don't see them guiding lower as I would think that interent marketing would increase b/c it is cheaper and still effective. YHOO had weak earnings yesterday and I think GOOG could prove to be still gaining ground in the core business.
I learned a lesson with AMZN today and the crush in vols that destroyed the trade. This trade is -vega and will profit from such a crush. I did choose to go bullish on this trade so a gap down will prove devistating for this trade.
2/1/08
sold -1 butterfly for 1.80
originally bot for 5.75
total loss = 3.95 or 69% loss!
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