Alphabet (GOOG) Options Signal Bullish Bias: Target $350 Calls as AI Deals Fuel Growth

• GOOG trades at $333.96, down 0.7% but above 30D support/resistance at $315.
• Call open interest dominates at $350 and $340 strikes, with a put/call ratio of 0.82 (bullish skew).
• Recent AI partnerships with Apple and Walmart validate Alphabet’s growth narrative.

Here’s the takeaway: Options data and technicals align for a bullish setup, with key resistance at $340–$350. The stock’s 82% six-month rally and AI-driven partnerships suggest upside potential, but watch for overbought RSI levels.

Where Bulls and Bears Are Betting: OTM Options and Sentiment

The options market is clearly leaning bullish. This Friday’s $350 call (OI: 25,464) and $340 call (OI: 14,826) strikes show heavy positioning for a rally above $340. Meanwhile, puts like the $320 strike (OI: 14,706) hint at cautious hedging. The put/call ratio of 0.82 means traders are buying more calls than puts—a classic sign of optimism.

But don’t ignore the risks. The RSI at 83.83 suggests the stock could retest support near $315. If the $335 call (OI: 8,392) expires worthless, it could signal fading momentum. No major block trades today, so no whale-driven volatility to worry about.

News Flow: AI Alliances Validate the Bull Case

Alphabet’s recent headlines are a goldmine for bulls. The Apple partnership to power AI models and Walmart’s Gemini-powered shopping tools validate its AI monetization strategy. Analysts like BMO and John Blackledge are raising price targets to $343–$355, citing Google Cloud’s 34% YoY growth and TPU sales to Meta.

These deals aren’t just headlines—they shift investor perception. When Apple and Walmart bet on your tech, it’s a green light for the market. But can the stock sustain this momentum? That’s where options data gives us a clue.

Actionable Trade Ideas: Calls, Puts, and Price Levels

For options traders, the GOOG20260116C350 (this Friday’s $350 call) and GOOG20260123C350 (next Friday’s $350 call) are prime candidates. Why? High open interest suggests liquidity, and a breakout above $340 could trigger a cascade of call buyers. If you’re bearish, the GOOG20260123P327.5 put (OI: 10,676) offers downside protection near the 200D support zone.

Stock traders should consider entry near $315 if the 30D support holds. A break above $340 could target $350–$360. Stop-loss below $310 would protect against a breakdown in the long-term bullish trend.Bullish Trends Ahead: Positioning for Alphabet’s AI-Driven Momentum

Alphabet’s options activity and news flow paint a clear picture: bulls are in control. The $350 call strikes are the sweet spot for capitalizing on AI-driven growth, but don’t ignore the risks of overbought conditions. This is a stock on a mission—backed by Apple, Walmart, and analysts. The next 72 hours will test whether the $340–$350 zone holds, and options traders are already placing their bets.

Bottom line: Position for a breakout, but keep a tight stop. The AI train isn’t slowing down anytime soon.