Looking At Alphabet's Recent Whale Trades

Looking At Alphabet's Recent Whale Trades

 

Someone with a lot of money to spend 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 32 uncommon options trades for Alphabet.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 59%, bearish.

Out of all of the special options we uncovered, 17 are puts, for a total amount of $1,217,045, and 15 are calls, for a total amount of $1,151,455.

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 $75.0 to $220.0 for Alphabet over the last 3 months.

Volume & Open Interest Development

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 $75.0 to $220.0 in the last 30 days.

Alphabet Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
GOOGL CALL SWEEP BEARISH 08/19/22 $114.00 $251.3K 10.8K 942
GOOGL CALL TRADE BEARISH 09/16/22 $118.00 $190.1K 1.8K 495
GOOGL PUT TRADE BEARISH 01/19/24 $142.00 $146.2K 162 154
GOOGL PUT TRADE BEARISH 01/19/24 $142.00 $146.2K 162 2
GOOGL CALL SWEEP BULLISH 09/16/22 $122.50 $125.0K 3.9K 764

Where Is Alphabet Standing Right Now?

  • With a volume of 5,984,378, the price of GOOGL is up 1.93% at $118.88.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 76 days.

What The Experts Say On Alphabet:

  • Rosenblatt has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $205.
  • Morgan Stanley has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $145.
  • UBS has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $132.
  • Morgan Stanley has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $140.
  • Keybanc has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $125.

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.

Posted In: BZI-UOAOptionsMarkets