Check Out What Whales Are Doing With Alphabet

Check Out What Whales Are Doing With Alphabet

 

A whale with a lot of money to spend has taken a noticeably bullish stance on Alphabet.

Looking at options history for Alphabet GOOGL we detected 27 strange trades.

If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $622,604 and 17, calls, for a total amount of $1,786,145.

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 $50.0 to $175.0 for Alphabet over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $50.0 to $175.0 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 TRADE BULLISH 01/19/24 $52.00 $294.1K 275 43
GOOGL CALL SWEEP BULLISH 01/19/24 $50.00 $249.9K 1.0K 151
GOOGL PUT SWEEP BULLISH 08/19/22 $125.00 $237.5K 7.4K 500
GOOGL CALL TRADE BEARISH 01/19/24 $50.00 $154.8K 1.0K 230
GOOGL CALL TRADE BULLISH 01/19/24 $50.00 $154.8K 1.0K 209

Where Is Alphabet Standing Right Now?

  • With a volume of 3,831,229, the price of GOOGL is down -1.22% at $120.22.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 69 days.

What The Experts Say On Alphabet:

  • Tigress Financial has decided to maintain their Strong Buy rating on Alphabet, which currently sits at a price target of $186.
  • Rosenblatt has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $154.
  • Credit Suisse has decided to maintain their Outperform rating on Alphabet, which currently sits at a price target of $140.
  • Evercore ISI Group has decided to maintain their Outperform rating on Alphabet, which currently sits at a price target of $140.
  • Exane BNP Paribas downgraded its action to Neutral with a price target of $118

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