been playing GOOG options the last few days and they have been very rewarding and quick plays. It's risky to play this stock, but if you have a plan, it might just work.
GOOG is one of the few stocks who's nearby option value can drop intraday without any stock movement. This is because the stock is so volatile, that that volatility reflects significantly in the option price. there fore, the best times i have found to buy goog intraday is to use a 5 and 15 minute chart with the BB(20,2). when you see an extended narrowing of the band, that is the time to buy as that is when volatility is the least factor in the price...so that the premium you are paying is not "as much" based on the volatility at that time.
The next step after that is to figure out the direction. this can come from just knowing and watching the stock everyday..you get a feel for it. These options are played by traders, so the 20 and 50 ema on the 60, 15 and 5 minute charts work well as well as previous days highs and lows .
it is very risky to play this stock though...if you buy into volatility, you could quickly lose a significant amount. so buy when those bands are narrow only...