Alphabet (GOOG) Options Signal Bullish Bias: Target $320+ as AI Momentum Fuels Near-Term Upside

• GOOG trades at $312.82, down 0.68% from its 52-week high of $314.96
• Call open interest dominates at $320 and $322.5 strikes ahead of Friday’s expiry
• Block trades show big money buying calls with $235-$350 strike targets
• AI partnerships and a $4.75B clean energy buy signal long-term growth

Here’s the core insight: Options data and fundamentals align for a bullish breakout. With AI-driven ad growth and strategic acquisitions, GOOG’s technicals and options flow point to a high-probability upside move—but key support levels demand close attention.

Bullish Imbalance in Options Flow and Whale Moves

The options market is clearly leaning bullish. This Friday’s expiring calls show 15,180 open contracts at the $320 strike and 13,385 at $322.5, while puts trail with just 2,621 at $305. This 5:1 call/put skew suggests institutional players are pricing in a $320+ move before January 2nd.

But it’s not just retail traders jumping in. The block trade data tells a bigger story: 800 contracts bought at the $235 call (expiring Sept 19) and $467,200 spent on the $245 call (same expiry) hint at strategic positioning. These moves, combined with TD Cowen’s $350 price target, imply big players are hedging for a multi-month AI-driven rally.

The Risk? If GOOG fails to hold its 30-day support at $314.30, the $301.53 lower Bollinger Band becomes a critical level. A break below that could trigger a short-term selloff, though the RSI at 43.57 suggests oversold conditions might offer a rebound.News That Fuels the Bull Case

Alphabet’s AI dominance isn’t just hype. The $1B Apple partnership to overhaul Siri with Gemini, plus 650M monthly active users for its AI models, is turning skeptics into believers. The clean energy acquisition? It’s not just ESG fluff—it secures power for AI data centers, directly addressing a bottleneck for growth.

Analysts aren’t just nodding; they’re betting. Cwm LLC’s 15.6% Q3 stake increase and TD Cowen’s $350 target (up from $335) show institutional confidence. This isn’t a flash-in-the-pan AI story—it’s a full-stack strategy with real infrastructure backing it.

Actionable Trade Setups for TodayFor Options Traders:

• Buy GOOG20260109C320 (next Friday expiry): With 2,210 open contracts and a $312.82 underlying price, a $320 call offers 2.5% upside if GOOG breaks its 30-day resistance at $314.30.
• Bull Call Spread: Buy GOOG20260109C315 ($1,892 OI) and sell GOOG20260109C330 to cap risk while capitalizing on AI-driven momentum.

For Stock Investors:

• Entry near $311.97 (today’s intraday low) if support holds. Target $320 as a first profit zone, with a stop-loss at $301.53 (lower Bollinger Band).
• Alternatively, consider a buy-dip strategy if GOOG dips to $305 (a level with 2,621 put OI), where oversold RSI and strong fundamentals could spark a rebound.

Volatility on the Horizon

The next 72 hours will test GOOG’s resolve. A close above $314.17 (today’s high) would validate the bullish case, while a drop below $311.97 could trigger a test of the $301.53 level. Either way, the options market and fundamentals are aligned for a $320+ move in early January—provided the AI narrative stays strong.

This isn’t just a stock trade; it’s a bet on Alphabet’s ability to turn AI hype into sustainable revenue. And right now, the data says the odds are in your favor.