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Deep-pocketed investors have adopted a bullish approach towards Alphabet (NASDAQ:GOOGL), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in GOOGL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 41 extraordinary options activities for Alphabet. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 36% bearish. Among these notable options, 23 are puts, totaling $1,778,415, and 18 are calls, amounting to $1,020,895.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $185.0 for Alphabet, spanning the last three months.
In today's trading context, the average open interest for options of Alphabet stands at 5253.04, with a total volume reaching 9,472.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Alphabet, situated within the strike price corridor from $95.0 to $185.0, throughout the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
GOOGL | PUT | TRADE | BULLISH | 12/20/24 | $1.85 | $1.74 | $1.75 | $125.00 | $192.5K | 3.5K | 1.1K |
GOOGL | PUT | SWEEP | BULLISH | 10/18/24 | $23.75 | $23.05 | $23.05 | $185.00 | $160.5K | 1.0K | 48 |
GOOGL | PUT | SWEEP | BULLISH | 09/20/24 | $23.6 | $22.85 | $22.94 | $185.00 | $159.7K | 4.0K | 15 |
GOOGL | CALL | SWEEP | BEARISH | 12/20/24 | $8.95 | $8.85 | $8.85 | $170.00 | $123.0K | 2.8K | 240 |
GOOGL | PUT | SWEEP | BEARISH | 10/18/24 | $23.75 | $23.05 | $23.71 | $185.00 | $110.4K | 1.0K | 188 |
Alphabet is a holding company. Internet media giant Google is a wholly owned subsidiary. Google services account for nearly 90% of Alphabet's revenue, of which more than 85% is from online ads. Other Google services revenue is from sales of apps and content on Google Play and YouTube, as well as sales of hardware such as Chromebooks, the Pixel smartphone, and smart home products, which include Nest and Google Home. Google's cloud computing offerings account for a bit more than 10% of total Alphabet revenue. Alphabet's moonshot investments are in its other bets segment, where it bets on technology to enhance health (Verily), provide faster internet access (Google Fiber), enable self-driving cars (Waymo), and more.
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $205.6.
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: GOOGL