We’ve been bidding 7.60 for a September 260 put, predicated on a rally to 387.70, a Hidden Pivot target.  The option price looks about right, since it was trading for 9.70 when the stock peaked the other day at 379.10. Since my DJIA projection implies another rally leg for the market, we should continue to bid for the put. The goal is to acquire it as Google is making an important high, and then to short a May 260 put against it after the stock has fallen.  A single calendar spread legged on at ideal prices has the potential to produce a gain of as much as $4000 with relatively little risk.