Behind the Scenes of Alphabet's Latest Options Trends

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

The general mood among these heavyweight investors is divided, with 60% leaning bullish and 40% bearish. Among these notable options, 2 are puts, totaling $181,896, and 8 are calls, amounting to $278,005.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $130.0 to $195.0 for Alphabet over the last 3 months.

Volume & Open Interest Development

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 $130.0 to $195.0 over the preceding 30 days.

Alphabet Option Activity Analysis: Last 30 Days

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.

Alphabet's Current Market Status

• Currently trading with a volume of 4,225,262, the GOOGL's price is down by -0.18%, now at $165.07.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 68 days.

Professional Analyst Ratings for Alphabet

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $206.0.

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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. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Alphabet, targeting a price of $200. * An analyst from WestPark Capital downgraded its action to Buy with a price target of $210. * Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Alphabet, targeting a price of $220. * An analyst from Truist Securities persists with their Buy rating on Alphabet, maintaining a target price of $200. * An analyst from RBC Capital has revised its rating downward to Outperform, adjusting the price target to $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.