GOOG Calls from Yesterday

The GOOG December $650 calls opened yesterday are up over 15% today, I usually take profits in options pretty quick and I'm sure if I had looked at them earlier there was probably a more tempting gain there, but they are there to hedge the core short until GOOG can be added to on the short side, first we need the shakeout.

I decided to hold the calls although this isn't something I'm entirely comfortable doing, but there are several things poking out that have me wanting that hedge in place against the core short which is also profitable right now, so both the core short and the Calls from yesterday are in the green.

Here are the charts so you can decide if you need to.

 This is about the most damaging or ugliest chart in GOOG today at 5 min with a negative at the intraday high, but still it's leading positive and bigger than yesterday's positive divergence.

 The shorter timeframes are faster so this 3 min chart appears to already show GOOG working on a positive divergence right now.

Ultimately, the daily price pattern is way too common not to be run and have the shorts shaken out, Wall St. isn't going to give them money that easy. The white box is the area the market was in a range, note the leading positive since the break below support, just like a lot of other charts...

Take the Q's for example at 30 min!

This is what I was trying to illustrate the last few days, what "could" happen to a positive divergence if the market consolidates/pulls back, this 30 min leading positive is now a perfect example that I don't have to draw theoretical lines on the chart.