A whale with a lot of money to spend has taken a noticeably bearish stance on Alphabet.
Looking at options history for Alphabet GOOGL we detected 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 39% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $375,769 and 19, calls, for a total amount of $2,613,563.
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 $160.0 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 $80.0 to $160.0 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 | NEUTRAL | 01/19/24 | $120.00 | $1.5M | 21.8K | 1.9K |
| GOOGL | CALL | SWEEP | NEUTRAL | 01/19/24 | $125.00 | $193.9K | 18.3K | 10 |
| GOOGL | PUT | TRADE | BEARISH | 08/18/23 | $115.00 | $186.7K | 15.6K | 736 |
| GOOGL | CALL | SWEEP | BEARISH | 07/07/23 | $120.00 | $160.4K | 5.0K | 13 |
| GOOGL | PUT | SWEEP | BULLISH | 08/18/23 | $115.00 | $117.3K | 15.6K | 2.3K |
Where Is Alphabet Standing Right Now?
- With a volume of 10,470,063, the price of GOOGL is up 1.74% at $121.98.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 20 days.
What The Experts Say On Alphabet:
- UBS downgraded its action to Neutral with a price target of $132
- B of A Securities has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $128.
- Bernstein downgraded its action to Market Perform with a price target of $125
- Piper Sandler has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $140.
- B of A Securities downgraded its action to Buy with a price target of $128
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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