Yesterday’s misstep by Google, coming as it did during an expiration-week, was the death sentence for our butterfly spreads (although they could easily have been exited for 3-4 times what we paid for them. We were shooting for perhaps 15-20 times our entry price.) It’s possible, now that DaBoyz have killed March speculative out-of-the-moneys in most of the high-flying stocks, that They will trigger off a short squeeze on Friday aimed at unloading April calls they’ve been holding against the Marches. That’s why, just for the hell of it, we’ve suggsted holding onto one of the original four GOOG spreads.
