Google (GOOG) Offering Possible 29.87% Return Over the Next 7 Calendar Days

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Google’s most recent trend suggests a bullish bias. One trading opportunity on Google is a Bull Put Spread using a strike $1010.00 short put and a strike $1000.00 long put offers a potential 29.87% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $1010.00 by expiration. The full premium credit of $2.30 would be kept by the premium seller. The risk of $7.70 would be incurred if the stock dropped below the $1000.00 long put strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Google is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Google is bearish.

The RSI indicator is at 37.36 level which suggests that the stock is neither overbought nor oversold at this time.

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