Alphabet Unusual Options Activity For August 07

Deep-pocketed investors have adopted a bullish approach towards Alphabet GOOGL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOOGL usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 41 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 53% leaning bullish and 36% bearish. Among these notable options, 23 are puts, totaling $1,778,415, and 18 are calls, amounting to $1,020,895.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $185.0 for Alphabet, spanning the last three months.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Alphabet stands at 5253.04, with a total volume reaching 9,472.00. 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 $185.0, throughout the last 30 days.

Alphabet Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Current Position of Alphabet

• Currently trading with a volume of 3,831,825, the GOOGL's price is up by 2.12%, now at $161.64.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 76 days.

Expert Opinions on Alphabet

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $205.6.

• An analyst from JMP Securities downgraded its action to Market Outperform with a price target of $200.
• An analyst from Truist Securities persists with their Buy rating on Alphabet, maintaining a target price of $196.
• Reflecting concerns, an analyst from BMO Capital lowers its rating to Outperform with a new price target of $222.
• Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $200.
• In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $210.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Alphabet, Benzinga Pro gives you real-time options trades alerts.