Whales with a lot of money to spend have taken a noticeably bullish stance on Alphabet.
Looking at options history for Alphabet GOOGL we detected 63 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 26 are puts, for a total amount of $1,650,825 and 37, calls, for a total amount of $1,831,787.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $95.0 to $200.0 for Alphabet during the past quarter.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Alphabet stands at 6614.79, with a total volume reaching 65,888.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Alphabet, situated within the strike price corridor from $95.0 to $200.0, throughout the last 30 days.
Alphabet Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOGL | PUT | SWEEP | BEARISH | 09/20/24 | $7.3 | $7.2 | $7.3 | $160.00 | $274.4K | 825 | 383 |
| GOOGL | PUT | SWEEP | BULLISH | 01/17/25 | $9.3 | $9.25 | $9.25 | $155.00 | $171.1K | 2.2K | 187 |
| GOOGL | CALL | TRADE | BEARISH | 01/17/25 | $6.35 | $6.2 | $6.26 | $200.00 | $93.9K | 61.7K | 199 |
| GOOGL | CALL | TRADE | BULLISH | 12/18/26 | $31.25 | $31.25 | $31.25 | $190.00 | $93.7K | 54 | 0 |
| GOOGL | PUT | SWEEP | BULLISH | 10/18/24 | $6.7 | $6.6 | $6.6 | $155.00 | $81.8K | 911 | 201 |
About Alphabet
Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet's revenue, of which more than 85% is from online ads. Other Google services revenue is from sales of apps and content on Google Play and YouTube, as well as sales of hardware such as Chromebooks, the Pixel smartphone, and smart home products, which include Nest and Google Home. Google's cloud computing offerings account for a bit more than 10% of total Alphabet revenue. Alphabet's moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), provide faster internet access (Google Fiber), enable self-driving cars (Waymo), and more.
In light of the recent options history for Alphabet, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Alphabet
- Currently trading with a volume of 14,469,196, the GOOGL's price is up by 1.53%, now at $166.37.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 82 days.
What The Experts Say On Alphabet
5 market experts have recently issued ratings for this stock, with a consensus target price of $191.0.
- An analyst from Canaccord Genuity persists with their Buy rating on Alphabet, maintaining a target price of $190.
- An analyst from Truist Securities persists with their Buy rating on Alphabet, maintaining a target price of $190.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Alphabet with a target price of $200.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Alphabet, targeting a price of $205.
- Consistent in their evaluation, an analyst from Loop Capital keeps a Hold rating on Alphabet with a target price of $170.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Alphabet with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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