Investors with a lot of money to spend have taken a bullish stance on Alphabet GOOGL.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOOGL, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Alphabet.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 22%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $447,480, and 6 are calls, for a total amount of $310,765.
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 $90.0 to $340.0 for Alphabet during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Alphabet's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Alphabet's substantial trades, within a strike price spectrum from $90.0 to $340.0 over the preceding 30 days.
Alphabet Option Activity Analysis: 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 | BULLISH | 01/17/25 | $168.7 | $164.6 | $164.6 | $340.00 | $213.9K | 0 | 25 |
| GOOGL | PUT | TRADE | NEUTRAL | 01/17/25 | $168.75 | $164.7 | $166.75 | $340.00 | $200.1K | 0 | 25 |
| GOOGL | CALL | TRADE | NEUTRAL | 01/17/25 | $7.65 | $7.0 | $7.3 | $200.00 | $73.0K | 66.3K | 2 |
| GOOGL | CALL | TRADE | BULLISH | 08/16/24 | $84.5 | $83.0 | $84.5 | $90.00 | $67.6K | 168 | 0 |
| GOOGL | CALL | SWEEP | NEUTRAL | 08/16/24 | $22.25 | $21.85 | $22.25 | $155.00 | $66.7K | 1.5K | 30 |
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.
After a thorough review of the options trading surrounding Alphabet, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Alphabet Standing Right Now?
- With a volume of 3,319,933, the price of GOOGL is up 0.38% at $173.15.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 50 days.
Professional Analyst Ratings for Alphabet
In the last month, 5 experts released ratings on this stock with an average target price of $203.2.
- An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $200.
- Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on Alphabet with a target price of $196.
- Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $215.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Alphabet, targeting a price of $195.
- Consistent in their evaluation, an analyst from Tigress Financial keeps a Strong Buy rating on Alphabet with a target price of $210.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Alphabet options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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