Alphabet's Options: A Look at What the Big Money is Thinking

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 33 uncommon options trades for Alphabet.

This isn't normal.

The overall sentiment of these big-money traders is split between 48% bullish and 33%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $521,589, and 27 are calls, for a total amount of $3,933,932.

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 $150.0 to $265.0 for Alphabet over the last 3 months.

Insights into Volume & Open Interest

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 $150.0 to $265.0 over the preceding 30 days.

Alphabet Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

Alphabet's Current Market Status

• Currently trading with a volume of 5,217,228, the GOOGL's price is down by -0.94%, now at $190.95.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 29 days.

What Analysts Are Saying About Alphabet

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $214.25.

Turn $1000 into $1270 in just 20 days?

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. * Reflecting concerns, an analyst from Baird lowers its rating to Outperform with a new price target of $205. * An analyst from Goldman Sachs downgraded its action to Buy with a price target of $210. * An analyst from JP Morgan has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $232. * An analyst from B of A Securities has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $210.

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.