Alphabet (GOOG) Call Options Surge at $320–$325: A Bullish Setup for a Potential $343 Run in 2026?

• Current Price Action: GOOG trades at $315.22, up 0.45% with volume surging past 9 million shares. Intraday highs hit $322.91, testing upper Bollinger Bands at $325.09.
• Options Imbalance: Call open interest dominates at $320 (16,051 contracts) and $325 (11,038), while puts peak at $305 (4,700). Put/Call ratio: 0.7587 (calls outweigh puts by 32%).
• News Catalysts: BMO and Citizens raised price targets to $343 and $385, while Google Cloud’s $155B backlog and AI-driven monetization fuel institutional buying.

Here’s what the options market is whispering: A short-term breakout above $315.13 (30D support) could trigger a rush to $320–$325 call strikes, where 27,089 contracts are already bracing for a move. But don’t ignore the 19,000 puts at $305–$300—some smart money is hedging a pullback.The Call/Put Chessboard and Whale Moves

Let’s break down the OTM options: Calls at $320 and $325 (this Friday’s expirations) have 16,051 and 11,038 open contracts, respectively. That’s not just noise—it’s a crowd betting on a $325+ close. Meanwhile, puts at $305 and $300 (4,700 and 3,073 contracts) suggest cautious positioning below $314.18 (intraday low). The put/call ratio of 0.7587 tells us bulls are in control, but the MACD histogram (-1.02) hints momentum is slowing.

Block trades add intrigue. A $1.14M call block (GOOG20250919C235) and another $467K buy call (GOOG20250919C245) signal big players are stacking up for a rally. These trades, combined with BMO’s $343 target, scream: "This isn’t a short-term pop—it’s a structural shift." But keep an eye on the $314.35 support level (30D support). A break below that could ignite the $305 puts.

News That Could Make or Break This Trade

Alphabet’s AI and cloud momentum is undeniable. Google Cloud’s 34% YoY growth and $15.2B Q3 revenue, plus BMO’s upgraded $343 target, are tailwinds. But here’s the catch: insider selling (Pichai’s $9.74M stake-off) and the DOJ probe add friction. The market’s betting on AI execution, but regulatory risks could create volatility. Think of it like a storm on the horizon—stay bullish, but keep a raincoat handy.

Actionable Trades for Today

1. Options Play: Buy GOOG20260102C320 (strike: $320, expiring this Friday) if GOOG breaks $315.13. Why? The 16,051 contracts at this strike suggest a liquidity magnet. Target: $325 (upper Bollinger Band). Stop-loss: below $314.35.
2. Stock Entry: Consider buying GOOG near $314.35 (30D support) with a tight stop at $313.32 (middle Bollinger Band). Target: $325 (200D MA is $218.39—room to run!).
3. Bearish Hedge: Sell GOOG20260102P305 (put at $305) if GOOG dips below $314.18. The 4,700 puts here could create a short-term floor.

Volatility on the Horizon: Balancing AI Optimism with Regulatory Uncertainty

Alphabet’s story is a classic "two-step dance": AI and cloud growth are accelerating, but regulatory clouds linger. The options data and news flow align on a $325+ target by mid-2026, with BMO’s $343 and Citizens’ $385 targets as long-term beacons. For today, the key is to ride the $320–$325 call frenzy while keeping a floor at $305. This isn’t a "buy and forget" trade—it’s a tightrope walk between innovation and oversight. But if you time the entry right, the rewards could outpace the risks.