We usually save our Jackpot Bets for Friday, but the 593.60 target shown looks so tempting to short that we’ll try something different this time: Buy four September 12 580 puts if the stock gets within 20 cents of the target. This is a day order, since the time-decay factor will grow trickier as the week wears on. Although that wouldn’t preclude making a high-leverage bet later, it would necessitate more work, since we would need to ‘synch’ the option and stock price on an hourly basis. I estimate that the puts will be trading for around 0.70 or so with the stock trading near the target, but that price could fall to 0.50 or even lower if it happens late in the day. In no case should you pay more than 0.70 for the puts, nor should you buy more than four of them. ______ UPDATE (12:08 p.m.): Google stumbled out of the gate this morning and fell $8 without rallying, so our jackpot play was a non-starter.
