Alphabet (GOOGL) Options Signal $330 Bullish Bias: Here’s How to Position for AI-Driven Volatility

• Current Price Action: GOOGL trades at $307.81, down 0.48% from its 311.33 open, with volume surging to 16.9 million shares.
• Options Imbalance: Call open interest dominates at $335 and $325 strikes, while puts pile up at $290 and $230.
• Block Trade Alert: A 1,000-lot call buy at $260 (expiring this Friday) hints at near-term bullish positioning.

The stock is caught in a tug-of-war: short-term technicals point to a bearish correction, but long-term AI and SpaceX-linked optimism keeps the 300-day MA (208.85) as a critical support. Let’s break down what the options and news are really saying.Bullish Call Piles Up at $330—But Puts Tell a Different Story

The options market is split. For this Friday’s expirations, GOOGL20251219C330 and GOOGL20251219P290 dominate open interest, showing heavy bets on a $330 ceiling or $290 floor. Next Friday’s chain amplifies this with GOOGL20251226C330 (4,999 contracts) and GOOGL20251226P290 (3,496 contracts). The put/call ratio of 0.805 (calls > puts) suggests a mild bullish tilt—but don’t ignore the $230 put pileup. That’s a red flag for deep-out-of-the-money downside bets, possibly from hedge funds hedging long positions.

Block trades add intrigue. A 1,000-lot GOOGL20251219C260 buy (expiring this Friday) and a 500-lot GOOGL20260320P235 purchase (March 2026) signal big players are hedging for both near-term and long-term volatility. The $260 call at $1.355 per contract is a cheap bet if the stock rallies above its 30-day MA (300.29).

News Flow: SpaceX Gains and AI Hype Fuel Long-Term Optimism

Alphabet’s minority stake in SpaceX just got a $800B valuation boost—quietly lifting its balance sheet. This isn’t just noise: April’s $8B unrealized gain from SpaceX already flowed through earnings. With another tender offer, analysts expect a similar boost in Q4 2025 results. Meanwhile, YouTube TV’s "skinny bundles" are a direct threat to cable—a move that could juice ad revenue and subscriber growth.

But here’s the catch: AI hype is already baked into the stock’s 200D MA (208.85). Bank of America’s $1T AI revenue forecast is bold, but execution risks remain. The market isn’t pricing in a home run—it’s pricing in a cautious step forward.

Trade Ideas: Play the $330 Call or Short-Term Put Spread

For options traders, the GOOGL20251226C330 (next Friday’s $330 call) is a high-conviction play. At $2.806 per contract, it’s a 9.1% premium if the stock closes above $330. Why this strike? The 30-day Bollinger Band upper bound is at $338.20—so a breakout above $330 could trigger a rally toward that level.

If you’re bearish, consider a put spread: buy GOOGL20251226P290 (3,496 OI) and sell GOOGL20251226P285 (1,570 OI). The $5 width caps risk while profiting if the stock dips below $290.

For stock buyers, target $284.88 (30-day support) as a key entry. If it holds, aim for a rebound toward $311.42 (today’s high). A break below $284.88 would target $278.97 (lower Bollinger Band)—a 7% drop from current levels.

Volatility on the Horizon: Balancing Short-Term Noise and Long-Term Gains

The next 72 hours will test GOOGL’s resolve. A close above $311.42 could reignite bullish momentum, while a drop below $304.88 (intraday low) would invite more puts to flow in. But don’t lose sight of the big picture: Alphabet’s AI and SpaceX tailwinds are real. This isn’t a stock that trends in straight lines—it zigzags toward its long-term potential. Position yourself to ride the next leg up, but keep a tight stop if the short-term bearishness wins out.