Google Aug 11 585 Put Option [Paper Account]

Since I am a struggling grad student and Johns Hopkins isn't reducing their tuition rate anytime soon I have to play with paper money a lot more than I can with real money.  1) I have a lot less to lose...except time 2) It's one hell of a way to learn how to trade options / stocks

I bought the Google Aug 11 585 Put Option a few days back and now it looks like Google's stock is climbing and is currently sitting at $618.52.

The long-term outlook for GOOG is solid, but I was hoping for a short-term pull back to capture some gain (virtual money).  It's possible that the market is excited about Google buying the start-up Fridge...I doubt it.  The four person team will be joining the Google+ team and expanding their social network.

If I don't see GOOG going down, I will buy shares of GOOG to help offset the potential loss on the put option.

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Note: This was first posted on: http://investmentsinsight.blogspot.com/
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Saliq