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 11 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 27% bearish. Among these notable options, 2 are puts, totaling $77,835, and 9 are calls, amounting to $651,749.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $100.0 to $240.0 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 $100.0 to $240.0, over the past month.
Alphabet Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOGL | CALL | SWEEP | BULLISH | 07/12/24 | $2.61 | $2.5 | $2.61 | $190.00 | $186.5K | 6.1K | 2.5K |
| GOOGL | CALL | SWEEP | BULLISH | 07/19/24 | $3.1 | $3.05 | $3.1 | $190.00 | $155.0K | 14.0K | 675 |
| GOOGL | CALL | TRADE | NEUTRAL | 12/19/25 | $100.2 | $95.2 | $97.55 | $100.00 | $97.5K | 714 | 0 |
| GOOGL | PUT | SWEEP | NEUTRAL | 01/17/25 | $4.65 | $4.6 | $4.6 | $165.00 | $47.3K | 3.2K | 92 |
| GOOGL | CALL | SWEEP | BULLISH | 07/19/24 | $0.78 | $0.77 | $0.78 | $197.50 | $41.0K | 1.6K | 103 |
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.
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.
Alphabet's Current Market Status
- Trading volume stands at 1,807,808, with GOOGL's price up by 0.84%, positioned at $190.61.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 14 days.
What The Experts Say On Alphabet
In the last month, 5 experts released ratings on this stock with an average target price of $203.6.
- An analyst from Needham downgraded its action to Buy with a price target of $210.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Alphabet, which currently sits at a price target of $225.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Alphabet, maintaining a target price of $187.
- In a cautious move, an analyst from Rosenblatt downgraded its rating to Neutral, setting a price target of $181.
- Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on Alphabet with a target price of $215.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Alphabet options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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