Alphabet Options Trading: A Deep Dive into Market Sentiment

Financial giants have made a conspicuous bearish move on Alphabet. Our analysis of options history for Alphabet (NASDAQ:GOOGL) revealed 298 unusual trades.

Delving into the details, we found 38% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 63 were puts, with a value of $5,923,967, and 235 were calls, valued at $17,303,056.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $380.0 for Alphabet during the past quarter.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Alphabet's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Alphabet's significant trades, within a strike price range of $100.0 to $380.0, over the past month.

Alphabet Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

About Alphabet

Alphabet is a holding company that wholly owns internet giant Google. The California-based company derives slightly less than 90% of its revenue from Google services, the vast majority of which is advertising sales. Alongside online ads, Google services houses sales stemming from Google's subscription services (YouTube TV, YouTube Music among others), platforms (sales and in-app purchases on Play Store), and devices (Chromebooks, Pixel smartphones, and smart home products such as Chromecast). Google's cloud computing platform, or GCP, accounts for roughly 10% of Alphabet's revenue with the firm's investments in up-and-coming technologies such as self-driving cars (Waymo), health (Verily), and internet access (Google Fiber) making up the rest.

In light of the recent options history for Alphabet, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Alphabet

• With a volume of 22,464,322, the price of GOOGL is down -0.59% at $267.68.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 1 days.

Expert Opinions on Alphabet

In the last month, 5 experts released ratings on this stock with an average target price of $274.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Consistent in their evaluation, an analyst from BMO Capital keeps a Outperform rating on Alphabet with a target price of $294. * An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Alphabet, which currently sits at a price target of $236. * An analyst from Bernstein has decided to maintain their Market Perform rating on Alphabet, which currently sits at a price target of $260. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Alphabet with a target price of $280. * Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Alphabet, targeting a price of $300.

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.