GOOG trade

I'm taking a shot at a GOOG breakout tomorrow buying the weekly 685 calls which expire tomorrow. I always bet very small with these type of trades as I stand to risk loosing 100% in an instant if I'm wrong but reward potential is well worth the risk in my view.  First of all, with today's modest decline, the market has worked off it's ST overbought condition without much in the way of damage giving it the green light to make another upside stab if there's any kind of positive catalyst tomorrow. We also had a pcr in the 90's again which signals once again that there's a decent amount of top picking going on. So, all in all, there's ample room for a snapback rally tomorrow should there be a positive catalyst. This was a similar ST condition the market was in when I bought the SDS puts a few weeks ago but unlike 3 weeks ago where I knew there was definitive potential positive catalyst via the non-farm payrolls, there's not one like that. I need some luck here. If we do get a decent up day tomorrow, I stand to do very well with GOOG with it being perched right at the 52 week high showing great relative strength. I'm hoping a breakout to new highs in GOOG would translate into sharp 10-20 pt move in the stock which I think is very doable as this tends to happens with there is such a breakout. That would give me 5-15 bagger for my calls...that's the kind of risk-reward setup I like. This was practically the same risk-reward set up I pegged with my SDS put trade a few weeks back as well.

If the trade turns out to be a bust so be it....I'll have no regrets as I believe I have correctly assessed the risk-reward conditions.