Spotlight on Alphabet: Analyzing the Surge in Options Activity

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 10% bearish. Among these notable options, 2 are puts, totaling $85,063, and 8 are calls, amounting to $458,652.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $85.0 to $250.0 for Alphabet over the recent three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Alphabet options trades today is 7600.9 with a total volume of 9,793.00.

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 $85.0 to $250.0 over the last 30 days.

Alphabet 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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 3,401,176, the price of GOOGL is down by -0.89%, reaching $174.66.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 21 days from now.

Expert Opinions on Alphabet

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $198.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Cantor Fitzgerald downgraded its action to Neutral with a price target of $171. * In a positive move, an analyst from JMP Securities has upgraded their rating to Market Outperform and adjusted the price target to $220. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Alphabet, targeting a price of $203.

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.