Archer: Google credit spread

Brent Archer posted a bit about one of my favorite comedians, Jim Cramer, and his opinion on Google (GOOG). OK if you do not know who Jim Cramer is then you really have not been following the celebrities of the Markets; next you are going to be telling me you do not know who Lindsay Campbell is, which by the way she had some tips on GOOG as well today or should I say again ;). Jim has a show on CNBC and he is a wild and wacky trader. He did manage a hedge fund at one point in his career; however most people in the know say his wife is a better manager.

Whatever I am not in the know, Cramer brings his information to the masses and gets more everyday people involved in learning about proper investing and trading. He has opinions agree with them or disagree with them is up to you.

Brent Archer, however is one of my favorite traders, and his credit spread for today based off of information provided by Cramer is a December bull-put credit spread below the $610 range.
Check out the rest of the post here –> Cramer: Google to keep moving higher

My opinion I used to play Google when it was half the price of what it is today. It was scary back then and it is scary now; however if you have paid attention to the stock and have read it daily looking at the charts and getting a feel for the stock for at least a couple of months then I say go ahead and play it. GOOG does have a good support above the 610 level and right now it seems to be hitting its head on a resistance point at 700. But also realize that under the 610 level you are looking at a spread premium of around .25 to .30 for a $10 spread. Not a lot of %.

brent archer, credit spread, GOOG, google, jim cramer