Alphabet (GOOGL) Options Signal Bullish Breakout: Key Strike Levels and Strategic Entry Points for 2026

• Current price: $313.20, down 0.1% from prior close but holding above 30D support at $312.75.
• Call open interest dominates at $320–$322.50 strikes, while block trades hint at whale positioning in deep puts.
• Alphabet’s $4.75B Intersect acquisition fuels long-term energy infrastructure bets—options data aligns with bullish technicals.

Here’s the takeaway: Alphabet shows clear upside potential today. The stock is perched on a short-term bullish trend, with options market sentiment leaning heavily into calls at key resistance levels. But there’s a twist—block trades suggest some hedging activity. Let’s break it down.

Bullish Calls vs. Defensive Puts: What the Options Chain Reveals

The options market is painting a mixed but actionable picture. For this Friday’s expiration (Jan 2, 2026), call open interest peaks at $320 (OI: 11,178) and $322.50 (OI: 9,930), while puts max out at $310 (OI: 5,589). That’s a 2:1 call/put skew at these strikes—strong evidence of positioning for a near-term rally. The RSI at 43 suggests the stock isn’t overbought yet, and the 30D moving average ($307.44) remains a solid floor.

But don’t ignore the block trades. A massive GOOGL20260116P240 put (strike $240, expiring Jan 16) saw 2,000 contracts traded for $2.54M. That’s a bearish hedge for a worst-case scenario, but it doesn’t negate the near-term bullish setup. Think of it like a storm cloud on the horizon—acknowledge it, but focus on the immediate weather.

Why the Intersect Acquisition Matters for Traders

Alphabet’s $4.75B grab of Intersect isn’t just a headline—it’s a strategic move to lock down energy infrastructure for AI and cloud growth. This directly supports the company’s vertical integration play, which has already boosted Google Cloud revenue by 34% year-over-year. The market is pricing in long-term upside, and the options data reflects that.

But here’s the catch: The stock isn’t trading at a discount. With an EV/EBIT multiple of 23x, Alphabet is already seen as a growth play. The real opportunity lies in leveraging options to capitalize on the expected post-announcement momentum without overpaying for the stock.

Actionable Trade Ideas: Calls, Puts, and Stock Entries

For options traders, the most compelling setup is the GOOGL20260102C320 call (strike $320, expiring Friday). With open interest at 11,178, this strike is a liquidity sweet spot. If GOOGL breaks above its 30D resistance ($314.03) and holds the $312.75 Bollinger middle band, this call could see a sharp move. For a longer-term play, the GOOGL20260109C330 (strike $330, next Friday) offers leverage if the stock gaps higher after the Intersect deal closes in H1 2026.

Stock traders should watch two levels:

• Entry near $312.75 if the price holds above the middle Bollinger band.
• Target zone at $325 (upper Bollinger band) as a first profit-taking level.

A bearish counterplay? The GOOGL20260116P240 put (block trade) could act as a tail-risk hedge if you’re long the stock. But given the technicals and news flow, I’d prioritize the bullish angle.

Volatility on the Horizon: What to Watch

The next 10 days will test Alphabet’s resolve. A break above $314.97 (30D resistance) would validate the bullish case, while a drop below $300.04 (lower Bollinger band) could trigger panic. The block trade at $240 isn’t a red flag—it’s a contingency plan. Stay focused on the $312.75–$325 range for your setups.

Bottom line: Alphabet’s options market and fundamentals are in sync. This isn’t a high-risk gamble—it’s a calculated play on a company doubling down on AI and energy. The question isn’t if GOOGL will move—it’s how fast.