Alphabet (GOOG) Options Signal Bullish Bias: Target $335 Calls as AI Momentum Fuels Breakout Potential

• GOOG trades at $318.65, down 1% from its 52-week high of $328.67, but sits above all major moving averages.
• Options data shows 0.745 put/call ratio (open interest), with heavy call OI at $320–$345 and puts at $265–$315.
• Block trades in calls like GOOG20251003C250 suggest institutional bets on a $300+ move.
• Analysts raised price targets to $375, citing Gemini 3 AI’s 394% traffic growth and cloud expansion.

Here’s the core insight: GOOG is primed for a bullish breakout. Technicals, options flow, and AI-driven news all align for a move toward $335–$350, but short-term volatility and insider sales demand caution.

Options Imbalance and Whale Moves: A Bullish Playbook

The options market is screaming for a rally. This Friday’s top call OI is stacked at $320–$345, with GOOG20251212C340 (8,039 contracts) and GOOG20251212C320 (3,228) as key liquidity magnets. Puts are concentrated at $285–$315, but the 0.745 put/call ratio (open interest) shows bears aren’t dominating.

Block trades like GOOG20251003C250 (800 contracts, $503K turnover) and GOOG20250919C245 (800 contracts, $467K) hint at big players buying calls for October and September expirations. These aren’t random bets—they’re strategic, likely hedging against a Q4 earnings pop or AI-driven rerating.

News Flow: AI Wins Outweigh Short-Term Scrutiny

Alphabet’s AI story is firing on all cylinders. Gemini 3’s 394% traffic surge and cloud revenue growth (up 34% YoY) validate the bull case. Institutional buyers like UBS and Berkshire added 56.4% more shares in Q3, while Natixis boosted its stake by 78.9%.

But don’t ignore the red flags. Executives sold $62M in shares over 90 days, and regulatory debates around AI could slow momentum. Still, the 0.3% upward revision in earnings estimates and $3.48M government cloud contract show the fundamentals are solid.

Trade Ideas: Calls for the Rerating, Stock for the Grind

For options:

• GOOG20251219C320 (next Friday’s $320 call, 5,997 OI): Buy if GOOG holds above $315. Target $335 close by 12/19.
• GOOG20251219C335 (7,840 OI): Aggressive play if the stock breaks $325.

For stock:

• Entry near $315 (lower Bollinger Band at $267.12 is too far; 30D support at $284.50 is safer).
• Target $330–$335 if the $320 call expires in the money.
• Stop-loss below $310 to protect against a breakdown in momentum.

Volatility on the Horizon: Positioning for Alphabet’s AI-Driven Ascent

The next two weeks are critical. If GOOG holds above $315 and breaks $325, the $335–$350 range becomes a realistic target. But don’t chase. Wait for a pullback to $315–$318 before entering. The options market is pricing in a 10%+ move by December 19, and with analysts raising targets to $375, the risk-reward is skewed to the upside.

This isn’t a binary bet—it’s a calculated play on AI’s long-term value. Stay nimble, and let the data guide your exit. After all, even the smartest algorithms need a little human intuition.