Google (NASDAQ: GOOG) will be participating in the 700 MHz spectrum auction that begins in January. Bank of America says: "We believe GOOG has largely applied for the auction as gesture of good faith in conjunction with its aggressive lobbying of the FCC for open access conditions." BAMO goes on to say: "We are therefore skeptical GOOG is looking forward to outbidding VZ in a $5+ billion contest for the privilege of spending a $7+ billion to build out a network." GOGG December straddle is at $44.40. December front month equity options expire on 12/21/07.
Daily Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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