Deep-pocketed investors have adopted a bearish 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 58 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 41% bearish. Among these notable options, 5 are puts, totaling $1,291,133, and 53 are calls, amounting to $4,404,282.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $120.0 to $235.0 for Alphabet over the last 3 months.
Volume & Open Interest Development
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 $120.0 to $235.0, over the past month.
Alphabet Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOGL | PUT | TRADE | BULLISH | 01/16/26 | $21.15 | $20.9 | $20.9 | $170.00 | $1.1M | 656 | 550 |
| GOOGL | CALL | SWEEP | BEARISH | 12/18/26 | $62.05 | $61.7 | $61.7 | $120.00 | $617.0K | 246 | 100 |
| GOOGL | CALL | SWEEP | BULLISH | 03/21/25 | $12.5 | $12.35 | $12.5 | $170.00 | $500.0K | 5.3K | 472 |
| GOOGL | CALL | SWEEP | NEUTRAL | 11/01/24 | $9.95 | $9.85 | $9.95 | $160.00 | $199.0K | 1.1K | 116 |
| GOOGL | CALL | TRADE | BULLISH | 01/17/25 | $21.05 | $20.95 | $21.05 | $150.00 | $157.8K | 19.1K | 32 |
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.
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.
Where Is Alphabet Standing Right Now?
- With a volume of 13,976,837, the price of GOOGL is up 0.36% at $166.45.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
Expert Opinions on Alphabet
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $192.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Piper Sandler downgraded its action to Overweight with a price target of $200. * Reflecting concerns, an analyst from DA Davidson lowers its rating to Neutral with a new price target of $170. * In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $200. * An analyst from Morgan Stanley persists with their Overweight rating on Alphabet, maintaining a target price of $190. * An analyst from JMP Securities has revised its rating downward to Market Outperform, adjusting the price target to $200.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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