Alphabet (GOOGL) Options Signal Bullish Bias: Key Call Strikes and Block Trades Point to $310+ Upside Potential

• Current price near $304.35, up 0.62% from yesterday’s close
• Options market shows call dominance (put/call ratio: 0.8) with heavy open interest at $335 and $340 calls
• Block trades and analyst price targets ($310–$385) hint at aggressive bullish positioning

Here’s the bottom line: GOOGL shows upside potential today. The options market is pricing in a near-term rally above $310, supported by technicals, block trades, and bullish news flow. But watch for short-term volatility if the stock tests key support levels.

Bullish Pressure in Options and Whale Moves

The options chain tells a clear story. This Friday’s top OTM calls are clustered at $310–$350, with 24,316 open contracts at $335 and 17,511 at $340. That’s not random—it’s a crowd betting on a sharp move higher. Meanwhile, puts are concentrated at $290 (21,994 OI), suggesting a floor around $290 if the rally stumbles.

Block trades add fuel. A 1,000-lot buy of the GOOGL20251219C260 call (expiring today) suggests insiders or big players are hedging against a short-term pop. Combine that with the 2,000-lot GOOGL20260116P240 put (exp Jan 16, 2026), and you see a mix of near-term bullish bets and longer-term downside hedges. The message? Confidence in a near-term breakout but caution about broader risks.

News Flow: Renewable Energy and AI Fuel Optimism

Alphabet’s 21-year renewable energy deal with TotalEnergies for Malaysia data centers isn’t just ESG fluff—it’s a $3.48M contract that secures costs for Google Cloud. That’s a win for margins and a signal to investors that Alphabet’s infrastructure bets are paying off. Add in analyst price targets soaring to $385 (JP Morgan) and Bank of America calling Alphabet best-positioned for AI, and you’ve got a narrative that’s hard to ignore.

But don’t sleep on the risks. OpenAI’s poaching of a Google exec is a minor red flag in the AI talent war. Still, the broader story—13.89% revenue growth in 2025 and institutional investors piling in—overrides short-term noise.

Actionable Trade Ideas: Calls and Breakouts

For options traders: GOOGL20251219C310 (310 call expiring today) is a high-conviction play if the stock breaks above $306.19 (intraday high). With 13,278 open contracts, this strike has liquidity and momentum. If you want a longer timeline, GOOGL20251226C315 (315 call expiring next Friday) offers leverage if the stock holds above $302.46 (previous close).

Stock traders: Consider entry near $302.46 if support holds. Target $310–$315 if the 20-day EMA ($303.20) continues to slope upward. A stop-loss below $300.97 (intraday low) would protect against a short-term reversal.

Volatility on the Horizon

The Bollinger Bands show the stock is trading near the lower band ($293.82), but the 30-day RSI (34.97) suggests oversold conditions. If the $310 level breaks, look for a retest of the upper band ($330.90) over the next 30 days. Block trades and analyst optimism point to a $310+ breakout, but keep an eye on the $290 support level—break below that, and the rally could stall.

Bottom line: Today’s options activity and news flow align for a bullish setup. Play it with calls at $310 or a stock entry near $302.46. But don’t ignore the puts at $290—volatility is coming, and positioning now could pay off in the next 7–10 days.