Alphabet (GOOGL) Options Signal Bullish Bias: Key Strike Levels and Whale Moves Point to $335+ Upside Potential

• Alphabet (GOOGL) trades at $314.38, down 1.8% on heavy volume, with technicals hinting at a short-term rebound.
• Options data shows a 0.80 put/call OI ratio, with heavy call interest at $335 and $330 strikes ahead of Friday’s expiry.
• Block trades and analyst price targets ($365) suggest institutional confidence in AI-driven growth, despite EU regulatory risks.

Here’s the thing: GOOGL’s options market is screaming bullish right now. Call open interest dominates, block traders are stacking deep-out-of-the-money calls, and technicals align with a potential breakout above $320.50. But the EU fine risk and Waymo recall? That’s the shadow in the room. Let’s break it down.

Where the Money Is Flowing: Calls at $335, Puts at $310, and Whale Moves

The options chain is a goldmine of insight. For this Friday’s expiry, the $325 and $330 calls have 16,996 and 13,795 open interest—meaning traders are betting on a pop above $320.50. Next Friday’s data gets even more aggressive: the $335 call has 24,626 OI, and the $350 call (yes, $350) has 16,677 OI. That’s not just noise—it’s a vote of confidence in Alphabet’s AI and YouTube TV plays.

But don’t ignore the puts. The $310 put has 25,348 OI for next Friday, suggesting some hedgers are bracing for a pullback. And here’s the kicker: a block trade bought 1,000 of the GOOGL20251219C260 calls (strike price $260) this week. That’s a deep-in-the-money contract—cheap insurance if the stock rebounds from current levels.

News That Could Make or Break This Trade

Alphabet’s AI push and YouTube TV strategy are fueling the bullish case. Piper Sandler just raised its price target to $365, and the EU fine (€10B if it hits) is a near-term headwind but unlikely to derail long-term momentum. The Waymo recall? A short-term scare, not a structural issue. Retail investors are pricing in the AI narrative, but institutional players are hedging regulatory risks with those $310 puts.

Actionable Trades: Calls for the Breakout, Puts for the Safety Net

If you’re bullish, the GOOGL20251219C325 (this Friday’s $325 call) is your best bet. With the stock near $314, a close above $320.50 (30D support/resistance) could trigger a rush to these strikes. For a longer play, the GOOGL20251219C260 block trade suggests a floor near $260—buy the GOOGL20251219C335 next Friday if the stock holds above $319.53 (30D support).

Bearish? The GOOGL20251219P310 (next Friday’s $310 put) offers downside protection if the EU fine materializes. For a stock trade, consider entry near $319.53 (30D support) with a target at $325 if the breakout holds. Exit above $330 to lock in gains.

Volatility on the Horizon: Balancing AI Hype and Regulatory Headwinds

Alphabet’s story is a tug-of-war between AI optimism and regulatory friction. The options market is pricing in a $335+ move by next Friday, but the EU fine could force a pullback. My take? Ride the call momentum but keep a small put position (like the $310 strike) as insurance. This isn’t a straight-line trade—it’s a dance between innovation and oversight. Stay nimble, and watch those key levels like a hawk.