I have a put spread question

Quote from digitaljedi1:

Can someone tell me why a person would buy say an April 11 GOOG 375/380 put spread , wont they just excersise it soon as its filled?
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why would somebody exercise a put that is 250 points out of the money? google closed 630 ish.
 
Quote from digitaljedi1:

Can someone tell me why a person would buy say an April 11 GOOG 375/380 put spread , wont they just excersise it soon as its filled?
More...
It might be tough since at that level, GOOG options have 10 pt strikes :)
 
Quote from digitaljedi1:

I'm sorry i meant AAPL 375/380 put spread for April 11
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i would guess those calls have value. if you exercise a put, it's like selling the call for zero. you only gain short carry, which is essentially nothing with rates here. you may even pay for short carry.
 
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