Alphabet (GOOG) Options Signal Bullish Bias: Target $320+ as AI Infrastructure Plays Out

• GOOG trades at $314.45, down 0.16% but perched above key 30D support/resistance ($314.30–$315.24).
• Options market shows 0.75 put/call open interest ratio, with heavy call OI at $320 and $322.5 strikes ahead of Friday’s expiry.
• Block trades hint at strategic buying in lower-dated calls, while news of a $4.75B clean energy acquisition fuels long-term AI optimism.

Here’s the takeaway: upside potential is strong, but near-term volatility could test resolve. Let’s break it down.

Bullish OI Clusters and Block Trade Signals

The options market is whispering a clear story. For this Friday’s expiry (Jan 2, 2026), 15,180 open calls at the $320 strike and 13,385 at $322.50 suggest a price target in mind. That’s not just noise—it’s a crowd betting on a breakout above current levels. Meanwhile, the put side is quieter, with the most open interest at $305 (2,621 contracts). The 0.75 put/call ratio tells us bulls are in control, but don’t ignore the risk: if GOOG dips below $311.90 (today’s intraday low), that could trigger a short-term selloff.

Block trades add intrigue. A recent 800-lot buy of the GOOG20250919C245 call (expiring Sept 19) shows someone’s confident in near-term AI-driven growth. Combine that with the $320 call OI, and it feels like a coordinated push to lock in gains if the stock breaks above $314.48 (today’s high).

News That Fuels the Narrative

Alphabet’s $4.75B Intersect acquisition isn’t just a headline—it’s a masterstroke for AI infrastructure. By securing clean energy for data centers, the company is future-proofing its AI operations against grid constraints and price volatility. This aligns perfectly with the options market’s bullish bias. Investors are likely pricing in long-term growth from this move, even if the stock hasn’t spiked yet. The challenge? Regulatory hurdles or technical delays could slow momentum, creating short-term headwinds. But for now, the market seems to trust the strategy.

Actionable Trade Ideas

For options traders, the most compelling play is the GOOG20260109C320 call (expiring Jan 9, 2026). Why? The $320 strike has massive open interest, and a close above $314.48 today could trigger a rally toward that level. If you’re bearish, the GOOG20260109P305 put offers downside protection, but only if GOOG breaks below $311.90.

For stock traders, consider entry near $311.90 (today’s low) if support holds. A break above $314.48 would target $325, where the 200D moving average (at $216.17) gives no resistance. A stop-loss below $308.22 (30D MA) would protect against a deeper pullback.

Volatility on the Horizon

The next 72 hours will test GOOG’s resolve. A close above $314.48 could ignite a rally toward $320+ as AI optimism and energy infrastructure bets collide. But don’t ignore the Bollinger Bands: the lower band at $301.53 is a long way down, but a breakdown there would signal a shift in sentiment. For now, the data says bulls are in charge—let’s see if they can hold the line.