Alphabet (GOOG) Call OI Surge at $320-$325 and Whale Moves Signal Breakout Potential: Trade Setup for 2026

• Alphabet’s Q4 revenue hit $75.2B, driven by 22% Google Cloud growth and AI-driven tools.
• Options data shows 16,051 open interest at the $320 call (this Friday’s expiry), with calls dominating the chain (put/call ratio: 0.76).
• Block trades of 800 contracts at $235–$265 calls (expiring Sept–Oct 2025) hint at institutional positioning.

Here’s the deal: GOOG’s options market and fundamentals are screaming bullish. The stock is trading at $314.74, up 0.3% from its open, and technicals align with a short-term breakout. Let’s break down why this is a setup to watch—and how to play it.

Bullish OI Clusters and Whale Moves Point to $320+ Target

The options chain is packed with call-heavy positioning. This Friday’s expiry sees 16,051 open interest at the $320 call, followed by 14,090 at $322.5 and 11,038 at $325. That’s not random—it’s a vote of confidence. Traders are pricing in a move above the 30-day support/resistance range of $314.35–$315.13, with the upper Bollinger Band at $325.09 acting as a key psychological level.

But here’s the twist: the block trades in older expiries (like GOOG20250919C235 and GOOG20251003C250) suggest big players have been quietly accumulating calls months ago. These positions, combined with today’s OI, imply a long-term bet on AI-driven growth—especially with Alphabet’s $5B AI R&D investment and its $10B DoD contract.

News Flow Fuels the Bull Case

Alphabet isn’t just numbers on a page. The Google-Microsoft Azure partnership alone could generate $3B in revenue, and the new AI-powered search tool for businesses is a $1.2B annual opportunity by 2027. Combine that with a $10B share buyback program and a new CFO with Wall Street experience, and you’ve got a company reinforcing both top-line and bottom-line strength.

The recent 5% post-earnings surge also shows retail and institutional investors are buying the narrative. But here’s the catch: the RSI at 41.58 suggests the stock isn’t overbought yet. There’s room to run before technical indicators scream caution.

Trade Ideas: Calls for Short-Term, Stock for the Long Haul

For options traders, the GOOG20260102C320 (this Friday’s $320 call) is a high-conviction play. If GOOG breaks above $320, the $325 call (GOOG20260102C325) could see explosive gains. For next Friday’s expiry, the GOOG20260109C320 offers a slightly longer runway if the breakout is delayed.

Stock traders should consider entry near $314.35 (the 30-day support level). A break above $320 would target the upper Bollinger Band at $325.09, with a stop-loss below the lower band at $301.55. The 200-day MA at $218.39 is a distant floor—this is a short-term trade, not a long-term hold.

Volatility on the Horizon

Alphabet’s options market is pricing in a clear direction: up. The combination of AI-driven revenue catalysts, strategic partnerships, and call-heavy positioning creates a self-fulfilling prophecy. If GOOG hits $325 this week, the next wave of buyers—both retail and institutional—will likely push it higher. But keep an eye on the RSI; if it hits 70, that’s a signal to tighten stops or lock in profits.

Bottom line: This isn’t just a stock—it’s a story. And right now, the story is about breakout potential. The question isn’t if GOOG can go higher, but how fast the market will price in its AI-driven future.