Closing Trade – GOOG bear call spread

Stock / Symbol: Google / GOOG
Price at trade post: $625.93
Price at trade close: $623
Option Strategy: bear call spread

Trade Details:

BTC -1 GOOG Feb11 660 Call
STC 1 GOOG Feb11 670 Call
for a net debit of $1.50

Max Risk: $780
Reward: $80
Profit: 10.26% (before commissions)

Reasoning: As anticipated, despite GOOG announcing stellar earnings, the stock went nowhere. We're closing out here for a quick 10% gain in 1 day. If you'd like to hang on to the position and go for the full 29% gain, feel free to do so. However, with such good earnings numbers, if the entire market continues to move up, GOOG will go higher along with it.

Chart:

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