Quick Trade in Google

$GOOGL $GGLL

This is definitely a “cute” trade, but I like the bounce in GOOGL 0.00%↑ today for a quick trade idea. Above a now rising 5 day moving average, option volume is skewed to calls, and RSI never reached oversold conditions on this latest drop (similar to this past October).

I’m taking a quick shot at a move up the AVWAP from the gap down, which is a bit over 1.5x risk/return. Short term, low risk trade, I reference GGLL 0.00%↑ here as it is 1.5x; so hoping to squeeze a little juice from this.