Investors with a lot of money to spend have taken a bearish stance on Alphabet GOOGL.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with GOOGL, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 82 uncommon options trades for Alphabet.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 57%, bearish.
Out of all of the special options we uncovered, 20 are puts, for a total amount of $894,449, and 62 are calls, for a total amount of $5,695,109.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $68.0 to $190.0 for Alphabet during the past quarter.
Insights into Volume & Open Interest
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 $68.0 to $190.0 over the preceding 30 days.
Alphabet Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOGL | CALL | TRADE | BEARISH | 04/05/24 | $0.49 | $0.47 | $0.47 | $155.00 | $376.0K | 4.2K | 13.8K |
| GOOGL | CALL | SWEEP | BEARISH | 04/05/24 | $0.44 | $0.43 | $0.43 | $155.00 | $317.5K | 4.2K | 35.1K |
| GOOGL | CALL | SWEEP | BEARISH | 04/05/24 | $0.45 | $0.44 | $0.44 | $155.00 | $107.7K | 4.2K | 27.5K |
| GOOGL | CALL | SWEEP | BULLISH | 06/21/24 | $6.2 | $6.15 | $6.2 | $157.50 | $97.3K | 9.4K | 175 |
| GOOGL | CALL | SWEEP | BEARISH | 04/05/24 | $0.49 | $0.48 | $0.48 | $155.00 | $96.2K | 4.2K | 5.8K |
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.
Having examined the options trading patterns of Alphabet, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Alphabet
- Currently trading with a volume of 11,612,541, the GOOGL's price is down by -0.05%, now at $150.79.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 26 days.
Expert Opinions on Alphabet
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $159.5.
- Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Alphabet, targeting a price of $175.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Alphabet with a target price of $144.
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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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