Google Consideration…

Since nobody is sending me an invitation for Google+ I’m working on a couple ideas. I’ve been watching $GOOG bounce off their lows at 475 and over the last few days move up to 505.

Taking the highs of June 1st and the lows of June 27th we’re sitting at 50% and bumping up against a 200 day EMA (which for some reason doesn’t show up on the image).

The longer term trend is still downward though.

Butterfly 490/505/520

or

Put Ratio Spread 2:1 490/510

The second option appeals to me because of the longer term trend. Let me know what you think.