Alphabet Unusual Options Activity For September 09

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 129 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 46% leaning bullish and 40% bearish. Among these notable options, 56 are puts, totaling $5,158,312, and 73 are calls, amounting to $5,722,039.

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 $5.0 and $260.0 for Alphabet, spanning the last three months.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Alphabet's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Alphabet's significant trades, within a strike price range of $5.0 to $260.0, over the past month.

Alphabet 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About Alphabet

Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform, or GCP, accounts for roughly 10% of Alphabet's revenue with the firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.

Following our analysis of the options activities associated with Alphabet, we pivot to a closer look at the company's own performance.

Present Market Standing of Alphabet

• Currently trading with a volume of 24,712,529, the GOOGL's price is down by -1.77%, now at $148.05.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 43 days.

Professional Analyst Ratings for Alphabet

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $204.2.

• Reflecting concerns, an analyst from Wedbush lowers its rating to Outperform with a new price target of $205.
• Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Alphabet with a target price of $190.
• Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $210.
• Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $210.
• Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Alphabet with a target price of $206.

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.