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 9 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 33% bearish. Among these notable options, 2 are puts, totaling $124,452, and 7 are calls, amounting to $474,678.
Projected Price Targets
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 $360.0 for Alphabet over the last 3 months.
Volume & Open Interest Development
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 $150.0 to $360.0 in the last 30 days.
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 | TRADE | BULLISH | 02/21/25 | $23.0 | $23.0 | $23.0 | $160.00 | $172.5K | 1.6K | 75 |
| GOOGL | CALL | SWEEP | BULLISH | 06/18/26 | $27.35 | $27.3 | $27.35 | $185.00 | $103.9K | 418 | 53 |
| GOOGL | CALL | SWEEP | BULLISH | 01/17/25 | $1.3 | $1.29 | $1.29 | $200.00 | $71.5K | 89.3K | 1.7K |
| GOOGL | PUT | SWEEP | BEARISH | 02/21/25 | $9.7 | $9.65 | $9.65 | $180.00 | $70.4K | 386 | 103 |
| GOOGL | PUT | TRADE | BEARISH | 04/17/25 | $9.0 | $8.95 | $9.0 | $175.00 | $54.0K | 260 | 60 |
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.
Present Market Standing of Alphabet
- Currently trading with a volume of 3,482,171, the GOOGL's price is up by 0.96%, now at $178.2.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 82 days.
Professional Analyst Ratings for 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 $203.0.
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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. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $210. * Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Alphabet, targeting a price of $220. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on Alphabet with a target price of $210. * Maintaining their stance, an analyst from Bernstein continues to hold a Market Perform rating for Alphabet, targeting a price of $185. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Neutral with a new price target of $190.
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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