Alphabet (GOOGL) Options Signal Bullish Momentum: Key Strike Levels and Whale Moves to Watch for 2026 Breakouts

• Current Price Action: GOOGL trades at $313.99, down 0.03% from its 2025 high of $315.09, but remains above all major moving averages.
• Options Imbalance: Call open interest (1.82M) outpaces puts (1.48M), with heavy concentration at $320 and $315 strikes.
• Whale Activity: A $2.5M block trade in the GOOGL20260116P240 put and $1.35M buy in the GOOGL20251219C260 call signal strategic positioning.

Here’s the takeaway: GOOGL’s options market is quietly building a case for a bullish breakout above $315—if volume holds. Let’s break down why this matters for your 2026 trading plan.Bullish Pressure at $320, Bearish Caution at $290

The options chain tells a story of cautious optimism. For this Friday’s expiration, 9,982 contracts are open at the $320 call strike—the most of any OTM call—while the $312.5 put has 7,708 open contracts as a key support level. This suggests institutional players are hedging against a pullback but remain bullish on a push above $320.

The block trades add intrigue. A $2.5M bet on the GOOGL20260116P240 put (strike price $240) implies a hedge against a rare deep selloff, while the GOOGL20251219C260 call buy ($260 strike) hints at a near-term bullish catalyst. These moves aren’t screaming “crazy rally” but signal a desire to lock in gains if the stock holds its current range.

The Space Economy Play: Why Alphabet’s Bets Matter

Alphabet’s $3B+ portfolio is now 45% tied to space stocks like AST SpaceMobile and Planet Labs. Both have surged in 2025—ASTS up 270%, PL up 400%—driven by satellite broadband and geospatial AI demand. This isn’t just speculative hype: Planet Labs’ Q3 2026 revenue hit $81.3M (+33% YoY), and ASTS just launched its largest satellite yet.

Investors are starting to notice. Alphabet’s indirect bets on these space plays could amplify GOOGL’s AI/cloud narrative, especially as the $1.8T space economy gains traction. The challenge? Execution risks in these startups could dent Alphabet’s portfolio value if things stall. But for now, the market seems to price in success.

Trade Ideas: Calls for Breakouts, Puts for Protection

For options traders, the GOOGL20260102C322.5 call (next Friday’s $322.5 strike) is a top pick. With 9,240 open contracts, it’s the most liquid OTM call for the next expiration. If GOOGL closes above $315 this week, this strike could see explosive gains. Pair it with a GOOGL20260102P295 put (5,093 OI) to create a collar strategy—capping downside risk while riding the bullish wave.

Stock traders should watch two levels:

• Entry: Buy GOOGL near $312.27 (lower Bollinger Band) if it holds as support.
• Target: Push for a breakout above $315.09 (intraday high) with a first target at $320 (key call strike).
• Stop: Exit if price drops below $312.50 (2025 30D support).

Volatility on the Horizon

Alphabet’s options market is primed for a directional move. The bullish bias is clear—calls dominate, and block trades suggest positioning for a 2026 rally. But don’t ignore the puts: a sharp drop below $312.50 could trigger panic selling, especially with the $290 put strike (5,987 OI) acting as a psychological floor.

Bottom line: This is a stock with momentum and a narrative. If you’re in, ride the $320 call strikes. If you’re cautious, the $295–$290 put range offers a safety net. Either way, GOOGL’s options are whispering: 2026 could be the year to make space for gains.