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Options Action: Google

With Google reporting next week, how should you position ahead of earnings?

If you’re bullish, rather than buying stock outright, Brian Stutland of Stutland Equities recommends using options - specifically a call spread.

Get all the details. Watch the video now!


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Trader disclosure: On January 13, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Najarian Owns (BAC) Call Spread; Najarian Owns (BBY) Calls; Najarian Owns (C); Najarian Owns (F) Call, (F) Bonds; Najarian Owns (GE); Najarian Owns (HPQ) Call Spread; Najarian Owns (JPM) Call Spread; Najarian Owns (MRO) Call Spread; Najarian Owns (MSFT) Call Spread; Najarian Owns (MS); Najarian Owns (YHOO); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova Owns (GLD) Puts; Terranova Owns (FCX) Puts; Terranova Owns (UPL); Terranova Owns (VRTS); Terranova Owns (PVH); Terranova Owns (GM); Terranova Owns (CVI); Terranova Owns (CNQ); Terranova Owns (LTD); Terranova Owns (C); Terranova Owns (PEP)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (DE) Call Spread
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (QLGC)
Accounts Managed By Kanundrum Capital Own (TAN)
Accounts Managed By Kanundrum Capital Own (YGE)
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (IPI)
Accounts Managed By Kanundrum Capital Are Long Australian Dollar
Accounts Managed By Kanundrum Capital Are Long Hong Kong Dollar
Accounts Managed By Kanundrum Capital Are Short Euro
Accounts Managed By Kanundrum Capital Are Short Yen

For Whitney Tilson
Funds Managed By Whitney Tilson Own (MSFT)
Funds Managed By Whitney Tilson Own (CIT)
Funds Managed By Tilson Are Short (ITB)

For Ann Duignan
J.P. Morgan Received Investment Banking Compensation In Past 12 Months From (BUCY), (CAT), (CMI), (DE), (ETN), (ITW), (KMT), (MTW), (MOD), (OSK), (PCAR)
J.P. Morgan Expects To Receive/Seek Invsetment Banking Compensation In Next 3 Months From (BUCY), (CAT), (CMI), (DE), (ETN), (ITW), (KMT), (MTW), (MOD), (OSK), (PCAR)
JPMS Has Received Non-Investment Banking Compensation In Past 12 Months From (AGCO), (BUCY), (CAT), (CMI), (DE), (ETN), (ITW), (KMT), (MTW), (MOD), (PCAR)
An Affiliate Of JPMS Has Received Non-Investment Banking Compensation In Past 12 Months From (AGCO), (BUCY), (CNH), (CMI), (DE), (ETN), (ITW), (KMT), (MTW), (MOD), (OSK), (PCAR), (PH), (TEX)
A Senior Employee, Executive Officer Or Director of JPMorgan Chase & Co. And/Or J.P. Morgan Is A Director And/Or Officer Of (DE)

For Colin McGranahan
(TGT) Is Or In Past 12 Months Was A Client Of Bernstein, Which Provided Non-Investment Banking Securities-Related Services And Received Compensation

Bernstein Or Affiliate Managed Or Co-Managed Public Offering Of (DG) In Past 12 Months
Bernstein Or Affiliate Received Investment Banking Compensation From (DG) In Past 12 Months
Bernstein Or Affiliate Expects To Receive/Seek Investment Banking Compensation In Next 3 Months From (DG), (TGT), (WMT)

For Amelia Bourdeau
***No Disclosures

For Brian Stutland
***No Disclosures

For Whitney Tilson SOT
Funds Managed By Whitney Tilson Owned (MSFT) On 8/12/10

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