What the Options Market Tells Us About Alphabet

Financial giants have made a conspicuous bullish move on Alphabet. Our analysis of options history for Alphabet GOOGL revealed 29 unusual trades.

Delving into the details, we found 48% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $463,164, and 19 were calls, valued at $3,811,614.

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 $120.0 to $300.0 for Alphabet over the last 3 months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Alphabet options trades today is 7949.65 with a total volume of 34,750.00.

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 $120.0 to $300.0 over the last 30 days.

Alphabet 30-Day Option Volume & Interest Snapshot

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.

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

• With a trading volume of 5,394,391, the price of GOOGL is down by -1.0%, reaching $154.75.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 8 days from now.

What The Experts Say On Alphabet

In the last month, 5 experts released ratings on this stock with an average target price of $190.4.

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* An analyst from DA Davidson has decided to maintain their Neutral rating on Alphabet, which currently sits at a price target of $160.
* Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Alphabet with a target price of $185.
* An analyst from Keybanc persists with their Overweight rating on Alphabet, maintaining a target price of $202.
* An analyst from Mizuho persists with their Outperform rating on Alphabet, maintaining a target price of $205.
* An analyst from Jefferies persists with their Buy rating on Alphabet, maintaining a target price of $200.

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.