What Are Whales Doing With Alphabet

Author: Benzinga Insights | June 24, 2022 11:21am

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

Looking at options history for Alphabet (NASDAQ:GOOGL) we detected 86 strange trades.

If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.

From the overall spotted trades, 12 are puts, for a total amount of $731,354 and 74, calls, for a total amount of $6,097,121.

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 $1520.0 to $2800.0 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 $1520.0 to $2800.0 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	SWEEP	BULLISH	07/29/22	$2600.00	$500.0K	65	3
GOOGL	CALL	SWEEP	NEUTRAL	11/18/22	$2200.00	$235.2K	72	8
GOOGL	CALL	SWEEP	NEUTRAL	11/18/22	$2250.00	$211.2K	110	8
GOOGL	CALL	TRADE	NEUTRAL	07/15/22	$2000.00	$206.2K	446	3
GOOGL	CALL	SWEEP	BEARISH	07/01/22	$2220.00	$157.5K	1.2K	104

Where Is Alphabet Standing Right Now?

• With a volume of 489,243, the price of GOOGL is up 4.11% at $2337.07.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 32 days.

What The Experts Say On Alphabet:

• UBS has decided to maintain their Buy rating on Alphabet, which currently sits at a price target of $2650.
• Morgan Stanley has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $3000.
• Piper Sandler has decided to maintain their Overweight rating on Alphabet, which currently sits at a price target of $2775.

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