Alphabet (GOOG) Options Signal Bullish Bias: Key Strike Levels and Trade Setups for Dec 12 Expiry

• Current price: $313.37 (down 0.35% from $314.45)
• Call open interest dominates, with 17,913 contracts at $340 strike
• Analysts raised price targets to $400, citing AI monetization plans

Here’s the deal: GOOG’s options market is whispering a clear message. Despite today’s minor dip, the data screams bullish momentum. Let’s break down why this could be a setup for a short-term rally—and where the risks lie.

Where the Money Is Flowing: Calls at $340, Puts at $285

The options chain tells a story of cautious optimism. For this Friday’s expiry (Dec 12), the GOOG20251212C340 call has the highest open interest at 17,913 contracts. That’s not just noise—it’s a price level where big money is betting on a breakout. Meanwhile, the GOOG20251212P285 put (10,254 OI) acts as a floor. The put/call ratio of 0.74 (calls > puts) reinforces the bullish tilt.

But don’t ignore the block trades. A recent 800-lot purchase of GOOG20250919C245 and multiple call trades at $235–$260 strikes suggest institutional players are hedging or positioning for a longer-term move. These trades don’t scream panic—they signal confidence in Alphabet’s AI-driven growth story.

News That Could Fuel the Fire

Google’s plan to monetize Gemini with ads in 2026 is a game-changer. Analysts love it—Pivotal Research just bumped their target to $400. But here’s the catch: the EU antitrust probe could hit like a thunderstorm. If regulators slap a 10% fine, that might pressure the stock. Yet, the market seems to price in a resolution that won’t derail the AI rollout. The key here is momentum: as long as Gemini’s performance outpaces competitors like OpenAI, the bulls will keep winning.

Trade Ideas: Calls, Puts, and Precision Entries

For options traders, the GOOG20251212C320 call (4,827 OI) is a sweet spot. If GOOG breaks above today’s intraday high of $314.57, this strike could see explosive gains. For the risk-averse, the GOOG20251212P295 put offers downside protection if the stock dips below $312.62 (today’s low).

Stock traders: Watch the $313.36 level. If it holds, consider entries near $313.36 with a target at $314.57 (resistance). A breakdown below $312.62 would signal caution. For a longer play, the 200-day moving average at $164.29 is a distant support—don’t chase unless the RSI (currently 69.8) dips into neutral territory.

Volatility on the Horizon

Alphabet’s story is a tightrope walk between AI euphoria and regulatory headwinds. The options market is pricing in a 5–7% move by Dec 12, given the heavy call interest at $340. But don’t get greedy—this is a short-term trade. If the EU probe escalates, the puts at $285 could become a lifeline. Stay nimble, and let the data guide your exit. The road ahead isn’t all smooth, but for now, the bulls are in charge.