Unfortunately, it's had a bit of a run up these past several days, putting current price within striking distance of its all time high of about 679 in anticipation, apparently, of stellar , which could make a neutrally biased setup problematic, especially since GOOG has a tendency to alternately explode or implode.
Currently, the 1 SD line to the upside is around the 720 strike; to the downside at the 605 (about 115 points wide) for the Oct 30th expiry, with an expected move between 625 and 700. However, we've had several "implosions" below 600 (one on 8/24 -- no surprise there) and one more recently on 9/28, when it broke down to 589 and change off a swing high of nearly 651. The last produced an explosion, from 579 to initially more than 100 points higher, so obviously the thing has both profit written all over it if it stays between your short strikes and prolonged agony if it doesn't ... .
Naturally, I'll look at these concerns and ultimately decide on a set up closer to ... . My initial feeling is to skew the setup slightly .