Options Action: Google

How should you trade Google ahead of earnings on Thursday. Don’t make a move until you hear from Brian Stutland.

With the stock up $100 since July, Stutland likes playing Google with a put spread.

Sell Nov 510 put $7.50
Buy Nov 480 put $2.50

Learn more about this trade. Watch the video now!

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Trader disclosure: On October 12th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman’s Firm owns (ARO); Finerman owns (GOOG); Finerman’s Firm owns (IBM); Finerman and Finerman’s Firm own (JPM); Finerman’s Firm own (MCD); Finerman’s Firm owns (RIG); Fienrman’s Firm owns (WMT); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts; Seymour owns (AAPL), (GE), (GOOG), (INTC), (MON), (MSFT), (MOS), (POT)

For Brian Kelly
Accounts managed by Kanundrum Capital own (ANDE)
Accounts managed by Kanundrum Capital own (GPRE)
Accounts managed by Kanundrum Capital own (JJG)
Accounts managed by Kanundrum Capital own (SGG)
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (AGM)
Accounts managed by Kanundrum Capital own (MSFT)
Accounts managed by Kanundrum Capital own (FRO)
Accounts managed by Kanundrum Capital own (GLGC)
Accounts managed by Kanundrum Capital own (GS)
Accounts managed by Kanundrum Capital own (JEF)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own (UUP)
Accounts managed by Kanundrum Capital own (PCL)
Accounts managed by Kanundrum Capital own (LPX)
Accounts managed by Kanundrum Capital are short (HYG)
Accounts managed by Kanundrum Capital are short (SLF)
Accounts managed by Kanundrum Capital are short U.K. Pound
Accounts managed by Kanundrum Capital are short Mexican Peso

For Patty Edwards
Edwards Owns (GLD) For Clients
Edwards Owns (PGM) For Clients
Edwards Owns (SPY) For Clients
Edwards Owns (QQQQ) For Clients
Edwards Owns (SH) For Clients
Edwards Owns (VXX) For Clients
Edwards Owns (SBUX) For Clients
Edwards Owns (INTC) For Clients
Edwards Owns (GOOG) For Clients
Edwards Owns (GE) For Clients
Edwards Owns (JPM) For Clients

For Craig Moffett
Bernstein own more than 1% of outstanding common stock of (CMCSA), (CVC), (TWC), (S), (DTV)
Bernstein makes a market in (CMCSA), (DISH), (DTV)
Bernstein’s non-investment banking service clients in the last 12 months include (TWC), (T), (VZ) (S)
Bernstein receive compensation for non-investment banking services from (CVC), (TWC), (T), (VZ)
Bernstein intends to seek compensation for investment banking services in the next 3 months from (CMCSA), (CVC), (TWC), (T), (VZ), (S), (PCS), (DISH), (DTV), (LEAP)

For Zachary Karabell
Karabell Owns (IBM)
River Twice Capital Owns (IBM)
Karabell Owns (NKE)
Karabell Owns (CSCO)
River Twice Capital Owns (CSCO)
River Twice Capital Owns (EXPE)

For Derik Debruin
UBS owned 1% or more of (ILMN) as of last month`s end
A member of DeBruin’s team, or one of their household members owns shares of (TMO)
(MTD) is, or within the past 12 months has been, an investment banking client of UBS
(MTD) is, or within the past 12 months has been, a non-investment banking securities-related client of UBS
Within the past 12 months, UBS has received compensation from (MTD)

For Brian Stutland
***No Disclosures***

For Kurt Hallead
***No Disclosures***

CNBC.com with wires.