To The Moon

Recent$Google (GOOG) $Stock price trend obviously enters the phased adjustment range。 In the previous round of rising market driven by the overall valuation expansion of AI narrative and technology sector, GOOG once exploredHigh near $350, followed by a significant retreat at the high level. In terms of technical structure, after the stock price fell below the previous upward trend line, the short-term trend turned from unilateral upward tooscillatory downward channelMarket sentiment has also returned from the previous growth premium to the stage of rebalancing fundamentals and valuation.

From the perspective of the moving average structure, the stock price has now fallen back toAround $300, atMedium-term support area above MA120 (~ $295)。 At the same time, this interval is also the location of the early platform consolidation area and transaction-intensive area, which has strong technical significance. The recent K-line shows that in the near$295 – $300 rangeAt that time, the buying order below began to gradually undertake, the downward speed of the stock price slowed down obviously, and the trading volume did not continue to expand, indicating that the market selling pressure was marginally weakening. At the same time, short-term momentum indicators such as KDJ are close to the low range, and there are certain short-term momentum indicatorsPossibility of technical stabilization or shock repair。

From the perspective of macro and market environment, the recent U.S. stock technology sector as a whole is facingRepricing Pressures in Valuation and Interest Rate Environment。 On the one hand, the yield of U.S. bonds remains relatively high, which makes the valuation discount rate of growth stocks rise; On the other hand, the market has also begun to be more cautious about the return rhythm of the AI investment cycle. In this context, funds are more inclined to make staged positions from the technology leaders with a large increase before, rather than forming a trend of short selling. Therefore, large technology companies such as GOOG, which remain fundamentally solid, are more likely to presentRange shocks rather than unilateral declinesThe running state of.

Comprehensive technical position and market environment judgment,Short-term support areas are gradually forming around $300。 If the share price can be maintainedAbove $292 – $295The overall structure still belongs to the pullback/retracement consolidation in the medium-term upward trend. In this anticipation, investors may consider usingBull PutSpread StrategyMake a layout, such as selling297.5 Putand buy292.5 PutThe spread structure of. The strategy is essentially to leverage the market's belief thatGOOG has a low probability of falling below 292.5 in the short termAccording to the judgment, the income is obtained by collecting premium, while the maximum risk is limited to a fixed range, which has a better risk-return ratio in the current shock repair stage.

GOOG Bull Put Spread Strategy

Strategic Structure

Investors in$Google (GOOG) $OptionsBuild aBull Put Spread Strategy。

This policy belongs toBullish/volatile strategy of charging premium, limited income and limited risk, suitable for judgmentGOOG is able to hold the underlying support area, maintain volatility, or moderately rise before expirationOf the situation.

1 ️ ⃣ Sell higher strike price Put (main source of income)

• Sell 1 strike priceK₂ = $297.5Put of

• premium charged =$4.33/Share

The Put is closer to the current price and is a major source of revenue for Strategy premium. as long asPrice to maturity ≥ $297.5, the option lapses and the investor retains all premium rights.

2 ️ ⃣ Buy lower strike price Put (risk protection)

• Buy 1 strike priceK₁ = $292.5Put of

• Paid premium =$2.86/Share

The Put serves as a protective leg to be used in the event of a sharp decline in the stock priceLimiting maximum loss。

Net premium income

Formula:

Sell Put premium − Buy Put premium

=4.33 − 2.86= $1.47/Share

Each contract (100 shares):

=$147

Maximum Profit

WhenGOOG Expiry Price ≥ $297.5When:

• Both puts are out of the money

• All options lapse

Investors retain all net premium:

• Maximum Profit (Per Share) = $1.47

• Per contract = $147

Occurrence conditions:

Price to maturity ≥ $297.5

Maximum loss

Spread width:

297.5 − 292.5=US$5

Maximum loss formula:

Spread Width − Net premium

=5 − 1.47= $3.53/share

Each contract:

=$353

Occurrence conditions:

WhenGOOG Expiry Price ≤ $292.5

At this point:

• Put depth of selling Inside price

• Buy Put plays a protective role

• Losses are limited to a fixed range

BREAK-EVEN POINT

Formula:

Sell Put Strike Price − Net premium

=297.5 − 1.47= $296.03

Maturity judgment:

• Price ≥296.03 → Earnings

• Price =296.03 → No Profit or Loss

• Price ≤296.03 → Loss

VI. Strategy characteristics and applicable scenarios

Strategic characteristics

• Biased/Looking at the shock strategy

• Collect premium structure,Time value is good for the seller

• Limited revenue (1.47)

• Limited risk (3.53)

• RightShare price declines are more sensitive

• Margin requirementsSignificantly lower than naked selling Put

Applicable Scenario

When investors judge:

• GOOG has strong support around $292 – $295

• In the short termLower probability of falling below 292.5

• The share price mayVolatile or Moderate Rise

• Implied volatility is at a high levelpremium of the vendor is relatively sufficient

The structure is essentially:

"Swap $353 in maximum risk for $147 in premium gains."

Therefore, the strategy is generally suitable for:

• Investors who are bullish on GOOG's short-to-medium-term moves but not chasing the upside

• Options Seller Traders Wanting Time Value Returns with Limited Risk。