This Is What Whales Are Betting On Alphabet

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 27 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 29% leaning bullish and 40% bearish. Among these notable options, 5 are puts, totaling $433,433, and 22 are calls, amounting to $1,745,851.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $175.0 for Alphabet over the last 3 months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $85.0 to $175.0 in the last 30 days.

Alphabet Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

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.

Where Is Alphabet Standing Right Now?

• Trading volume stands at 7,209,776, with GOOGL's price up by 1.54%, positioned at $163.78.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 81 days.

What Analysts Are Saying About 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 $206.6.

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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 $178. * An analyst from Tigress Financial persists with their Strong Buy rating on Alphabet, maintaining a target price of $240. * Reflecting concerns, an analyst from RBC Capital lowers its rating to Outperform with a new price target of $200. * An analyst from Susquehanna persists with their Positive rating on Alphabet, maintaining a target price of $220. * An analyst from Keybanc persists with their Overweight rating on Alphabet, maintaining a target price of $195.

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.