Alphabet (GOOGL) Call Options Dominate at $320–$315 as Bullish Sentiment Peaks: Trade Ideas for 2026

• Call open interest spikes at $320–$315 strikes ahead of Friday’s expiry, signaling a potential $315–$325 breakout target.
• Block trades in $310 puts (GOOGL20260102P310) and $330 calls (GOOGL20260109C330) hint at institutional hedging and upside bets.
• JPMorgan and analysts project 20%+ upside to $385, backed by AI/Cloud growth and a $4.75B renewable energy acquisition.

Here’s the takeaway: GOOGL’s options market is screaming bullish—but with a twist. While call buying dominates, the $310–$315 support/resistance cluster could act as a speed bump. Let’s break down why this stock is primed for a 2026 rally… and where to position for it.

Bullish Imbalance in Calls, Whale Moves at Key Strikes

The options data tells a clear story: traders are pricing in a $315–$325 near-term target. The top 5 OTM call strikes (this Friday’s expiry) are stacked at $320 (OI: 12,307), $317.5 (12,083), and $315 (11,973), with next Friday’s $330 (OI: 4,685) and $325 (2,946) strikes showing follow-through demand. This isn’t just retail FOMO—block trades like the $10.2M GOOGL20260102P310 put block (839,000 shares) suggest big players are hedging against a $310 floor.

But don’t ignore the risks. The 200D support at $162.57 is laughably far away, but the 30D support/resistance cluster at $313.09–$314.03 is tight. If GOOGL dips below $313.09, the $310 put OI could trigger a rebound. Still, the 0.82 put/call ratio (call dominance) means the market expects a test of the Bollinger Band upper bound at $324.64 before year-end.

News Flow: AI Wins and Cloud Growth Fuel the Bull Case

Alphabet’s recent headlines are a goldmine for bulls. The $4.75B Intersect acquisition locks in cheap renewable energy for AI data centers, while Gemini 3.0’s 650M MAU and 7th-gen TPUs are reshaping Google Cloud’s competitive edge. JPMorgan’s "top 2026 buy" label and 44 "Buy" analyst ratings (average target: $315.90) aren’t just hype—they’re math. The $15.16B Q3 Cloud revenue (33.5% YoY growth) and Berkshire Hathaway’s $4.3B stake? That’s institutional validation.

Yet, regulatory risks linger. The DOJ’s DEI probe could delay AI monetization timelines, but the market seems to price this in already. For now, the narrative is all about execution—Gemini’s hybrid search model and Waymo’s 450K+ weekly robotaxi rides are hard to ignore.

Trade Setups: Calls for the Bold, Bollinger Breakouts for the Pragmatic

For options traders:

• Aggressive Play: Buy GOOGL20260109C330 ($330 call, expiry Jan 9) at $2379 OI. If GOOGL breaks $324.64 (Bollinger upper band), this strike could run.
• Balanced Play: A bull call spread using GOOGL20260102C315 ($315 call) and GOOGL20260102C320 ($320 call) caps risk while leveraging the $315–$325 target.

For stock buyers:

• Entry: Consider buying GOOGL near $314.11 if it holds above $313.09 (30D support).
• Targets: First aim for $316.95 (intraday high), then $324.64 (Bollinger upper band).
• Stop-Loss: Below $312.46 (intraday low) invalidates the bullish case.

Volatility on the Horizon

The next two weeks will test GOOGL’s resolve. A close above $316.95 could trigger a multi-week rally toward $325, while a dip below $313.09 might force a retest of $310. Either way, the options market is pricing in a 2026 bull case. For now, the message is clear: this stock isn’t just trending—it’s accelerating.