Alphabet A (GOOGL) Options Signal Bullish Bias: Key Strike Levels and Whale Moves Point to $335 Target

• Q4 earnings beat and $10B buyback boost fundamentals
• Call open interest surges at $335 strike for next Friday
• Block trades hint at big money bets on $260 call and $235 put

Here’s the takeaway: GOOGL’s options market is leaning hard into a bullish narrative, with call open interest outpacing puts by 26% and whale activity clustering around key strike levels. The stock’s current price action—trading just above 30D support at $285—suggests a short-term bounce is in play, but the long-term trend remains intact. If you’re positioning for this, the data points to upside potential first.

Where Big Money Is Betting: Calls Dominate at $335, Puts Watch $310

The options chain tells a clear story: traders are pricing in a 10%+ move higher. For next Friday’s expiration (Dec 19), the GOOGL20251219C335 call has 24,151 open contracts—the highest of any strike. That’s not just noise; it’s a liquidity magnet. Meanwhile, the GOOGL20251219C260 call saw a 1,000-contract block trade, suggesting institutional players are hedging or scaling up ahead of the Google-Microsoft AI partnership rollout.

On the downside, the GOOGL20251219P310 put has 24,544 open contracts, nearly matching the top call’s volume. This isn’t bearish confirmation—it’s a hedge. Big money knows the EU fine could trigger a pullback, but the put/call ratio (0.79 for open interest) still favors bulls. The danger? If the stock dips below $302.97 (middle Bollinger Band), those puts could accelerate a 5-7% correction.

News Flow: Earnings and AI Alliances Outweigh Short-Term Risks

Alphabet’s Q4 beat—$68.4B revenue, $28.50 EPS—has already priced in much of the bullish momentum. The Google Cloud-Microsoft partnership adds $2B in potential revenue, and the Anthropic acquisition cements Gemini’s enterprise edge. These aren’t just headlines; they’re catalysts for the $335 call-heavy positioning we’re seeing.

But don’t ignore the negatives. The EU fine ($3.2B) and Dr. Lin’s exit could create volatility. However, the $10B buyback and 5-7% EPS boost from share repurchases offset those risks. The market’s pricing in resilience: even with the fine, the stock’s 30D support at $284.26 is holding, and the 200D moving average ($162.57) is a distant floor.

Actionable Trades: Calls for the Breakout, Puts for the Safety Net

For options: Buy the GOOGL20251219C320 call if GOOGL breaks above $315. The $320 strike is just below the $327.5 OI hot spot and offers 15% upside if the AI partnership gains traction. For a conservative play, sell the GOOGL20251219P310 put if the stock dips to $305—it’s a 4% buffer from current levels and aligns with the EU fine’s potential drag.

For stock: Consider entry near $312 (intraday low) with a stop below $307.50. Target $325 first (10% gain), then $335 if the AI news catalyzes a breakout. Avoid chasing above $315 unless volume surges past 12M—this isn’t a momentum stock in a vacuum.

Volatility on the Horizon: Balancing Bullish Momentum and Regulatory Headwinds

The next two weeks will test GOOGL’s resolve. The EU fine’s March 2026 deadline gives the stock time to digest the hit, but the $3.2B charge could weigh on Q1 guidance. Meanwhile, the $5B sustainability fund and $10B buyback are tailwinds. If the stock holds above $302.97, the long-term bulls—backed by that 200D MA at $206—will keep winning. But if it cracks $285, re-evaluate. For now, the options market’s bullish bet is on, and the data says: play it with discipline.