Behind the Scenes of Alphabet's Latest Options Trends

Investors with a lot of money to spend have taken a bearish 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 61 uncommon options trades for Alphabet.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 49%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $768,473, and 44 are calls, for a total amount of $2,654,210.

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 $115.0 to $270.0 for Alphabet during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Alphabet's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Alphabet's whale activity within a strike price range from $115.0 to $270.0 in the last 30 days.

Alphabet Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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

• With a volume of 8,039,814, the price of GOOGL is up 0.15% at $183.89.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 70 days.

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