This Is What Whales Are Betting On 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 22 strange trades.

If we consider the specifics of each trade, it is accurate to state that 68% of the investors opened trades with bullish expectations and 31% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $167,812 and 18, calls, for a total amount of $1,220,283.

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 $80.0 to $150.0 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 6638.47 with a total volume of 36,325.00.

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 $80.0 to $150.0 over 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 BULLISH 07/21/23 $115.00 $233.0K 17.9K 272
GOOGL CALL TRADE NEUTRAL 06/16/23 $108.00 $172.2K 3.7K 105
GOOGL CALL TRADE BULLISH 06/02/23 $108.00 $170.0K 443 104
GOOGL CALL TRADE BEARISH 06/09/23 $119.00 $150.0K 527 24
GOOGL PUT SWEEP BEARISH 08/18/23 $120.00 $87.9K 5.8K 601

Where Is Alphabet Standing Right Now?

  • With a volume of 7,440,405, the price of GOOGL is up 0.46% at $124.29.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 53 days.

What The Experts Say On Alphabet:

  • Loop Capital downgraded its action to Hold with a price target of $125
  • JMP Securities downgraded its action to Market Outperform with a price target of $132
  • JMP Securities has decided to maintain their Market Outperform rating on Alphabet, which currently sits at a price target of $132.
  • Jefferies has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $150.

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.


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Posted In: OptionsMarketsBZI-UOA