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 19 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 21% leaning bullish and 57% bearish. Among these notable options, 9 are puts, totaling $556,424, and 10 are calls, amounting to $338,565.
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 $130.0 to $200.0 for Alphabet over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Alphabet options trades today is 5060.25 with a total volume of 2,606.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Alphabet's big money trades within a strike price range of $130.0 to $200.0 over the last 30 days.
Alphabet Option Volume And Open Interest Over 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 | PUT | TRADE | BULLISH | 01/16/26 | $5.9 | $5.75 | $5.8 | $130.00 | $174.0K | 6.5K | 300 |
| GOOGL | PUT | SWEEP | BEARISH | 12/20/24 | $10.9 | $10.7 | $10.85 | $170.00 | $83.8K | 7.1K | 0 |
| GOOGL | PUT | TRADE | BEARISH | 12/20/24 | $10.8 | $10.6 | $10.8 | $170.00 | $83.1K | 7.1K | 154 |
| GOOGL | CALL | TRADE | NEUTRAL | 12/20/24 | $11.0 | $10.9 | $10.95 | $160.00 | $54.7K | 8.5K | 73 |
| GOOGL | PUT | TRADE | BEARISH | 12/20/24 | $10.9 | $10.9 | $10.9 | $170.00 | $50.1K | 7.1K | 286 |
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.
Where Is Alphabet Standing Right Now?
- Trading volume stands at 7,607,894, with GOOGL's price up by 0.43%, positioned at $163.63.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 11 days.
Professional Analyst Ratings for Alphabet
In the last month, 5 experts released ratings on this stock with an average target price of $198.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Neutral, setting a price target of $190. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $190. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Alphabet with a target price of $182. * An analyst from Tigress Financial persists with their Strong Buy rating on Alphabet, maintaining a target price of $220. * An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $210.
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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