Google (GOOG, $449.54, down $5.49) closed down a little over 1% today but is jumping big-time in early after-hours trading.  The company reported 1Q income $1.3 billion, or $4.12 a share, up from $1 billion, or $3.18 cents a share, compared to last year’s 1Q numbers. Impressive.

The stock was up well above $500, up nearly 80 points to $530 after the bell so investors are clearly cheering the numbers.  It will be interesting to see where the April 500 calls (GOPDO, $0.55, down $1.10) end up on Friday which is also expiration day for the April contracts.  If the current gains hold going into trading these calls would be in-the-money by $30 per contract.  If you had bought 10 of these contracts before the close today you would have spent $550.  If these numbers hold up then the April 500’s would be worth at least $30,000 for a one-day gain of 5355%.  Simply amazing. BTW – The May 500 calls (GOPEO, $7.00, down $0.80) had some huge volume with over 7,000 contracts traded.
Rick Rouse