Check Out What Whales Are Doing With GOOGL

Someone with a lot of money to spend (and possibly insider knowledge) has taken a bearish stance on Alphabet GOOGL.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 149 uncommon options trades for Alphabet.

This isn't normal.

The overall sentiment of these big-money traders is split between 42.95% bullish and 57.05%, bearish.

Out of all of the special options we uncovered, 54 are puts, for a total amount of $3,730,252, and 95 are calls, for a total amount of $5,849,969.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2000.0 to $4100.0 for Alphabet over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Alphabet options trades today is 615.94 with a total volume of 100,659.

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 $2000.0 to $4100.0 over the last 30 days.

Alphabet Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Alphabet Standing Right Now?

• With a volume of 905,376, the price of GOOGL is down -1.7% at $2910.53.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 92 days.

What The Experts Say On Alphabet:

• Truist Securities has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $3400.0.
• JMP Securities has decided to maintain their Market Perform rating on Alphabet, which currently sits at a price target of $3300.0.
• BMO Capital has decided to maintain their Outperform rating on Alphabet, which currently sits at a price target of $3200.0.
• Canaccord Genuity has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $3350.0.
• Jefferies has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $3500.0.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.