Alphabet's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bullish stance on Alphabet.

Looking at options history for Alphabet GOOGL we detected 48 trades.

If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 43% with bearish.

From the overall spotted trades, 19 are puts, for a total amount of $962,027 and 29, calls, for a total amount of $2,448,659.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $100.0 and $200.0 for Alphabet, spanning the last three months.

Volume & Open Interest Trends

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Alphabet’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Alphabet’s substantial trades, within a strike price spectrum from $100.0 to $200.0 over the preceding 30 days.

Alphabet Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Present Market Standing of Alphabet

• With a trading volume of 8,365,187, the price of GOOGL is up by 1.44%, reaching $170.1.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 30 days from now.

What Analysts Are Saying About Alphabet

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $206.75.

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* An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $200.
* Consistent in their evaluation, an analyst from Keybanc keeps a Overweight rating on Alphabet with a target price of $202.
* Consistent in their evaluation, an analyst from Roth MKM keeps a Buy rating on Alphabet with a target price of $220.
* An analyst from Rosenblatt persists with their Neutral rating on Alphabet, maintaining a target price of $205.

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.