SPDR S&P 500 (SPY)

[whereismyorange]

Hi Blasher,

Not to poo poo on your party, but the straddle was still a bad play. If you played the straddle/strangle, this morning you would have seen your account barely positive, and most likely even negative. This means you could have bought the puts this morning and made MORE money than what the straddle offered.

In hindsight, if you really wanted to play a straddle here, you were better off ONLY buying the puts. Google was up huge in the past week, and expectations were high. Google would have needed to get past 520 (major resistance) for you to profit on the upside. Prob of profiting on the upside were so low, you could have said screw the call!