Google is getting pounded Thursday night, demonstrating yet again that the market’s supposedly perfect knowledge is more art than science. The good news for us is that, since we ‘know’ the stock will eventually hit $1000, the current shakedown could provide an opportunity to leg into some riskless bull spreads well above these levels.  We’ll be shooting for the September 960-980-1000 butterfly for ‘even’ or better, first by buying the 960-980 call spread in a 1:2 ratio for a $6 credit. This will require buying the 960s at a corrective low, so stay tuned to the chat room if you want to be on top of any opportunities that develop in real time. I’ll open an impromptu session Friday morning to provide a more detailed explanation of our strategy, but my goal is to simplify the actual execution steps sufficiently to allow even novices to participate. _______ UPDATE (10:03 a.m. EDT): Here’s the ticket: Buy four Sep 960-Sep 980 call spreads if GOOG relapses to 861.39 as I expect.  That is the p midpoint support of a pattern that incorporates the actual overnight low, 858.80, as the point ‘b’ of (15-min) a=910.89 at 7/18 at 4:00 p.m.; b=858.80; c=887.43.  I’ve refreshed the chart to show all of this.  Since GOOG could fall all the way to 835.34 if p fails, let’s use a 20-cent stop-loss on the spread, based on a ‘reasonable’ acquisition price actually reported in the chat room. You should initiate the spread-trade with GOOG within 15 cents of the target, paying midway between bid/asked.  With GOOG currently at 880.00, the spread is trading for around 1.75. However, it’ll get cheaper if the stock falls to p. _______ FURTHER UPDATE (11:07 a.m. EDT): A chat-roomer has convinced me to try something easier: legging into the Sep 960-980 call spread 1:1 if and when GOOG falls to p.  Stay tuned for further instructions, since this morning’s sleazy, distributive rally is generating a new point ‘C’ high that will change the p where we plan to do our buying.  Our goal, using a bull spread, is to have a shot at a $16000 payoff on no more than $100 of initial risk. _______ UPDATE (July 22, 2:54 p.m. EDT): So much for that idea.  Google is up nearly $16 today and therefore not a great play for those of us who only buy on weakness.  The stock remains an almost certain bet to hit $1000, but the odds we’d get are far less attractive than at last week’s heavily manipulated, trampoline low.