Alphabet (GOOGL) Options Signal Bullish Bias: Key Strike Levels and Whale Moves to Watch for Dec 12–19 Expirations

• GOOGL surges 1.25% today, trading at $317.63 amid a short-term bearish Kline pattern but long-term bullish trend.
• Options market shows call open interest (OI) outpacing puts 1.27:1, with heavy call OI at $335 and $330 strikes for next Friday (Dec 19).
• Block trades reveal big money buying calls (e.g., GOOGL20251219C260) and hedging with puts (GOOGL20260320P235), hinting at strategic positioning.

The options market and technicals are sending a clear message: traders are leaning bullish on GOOGL, but risks linger near key levels.Bullish Sentiment in Options and Whale Moves

Let’s start with the numbers. For next Friday’s expirations, the $335 call (GOOGL20251219C335) leads with 24,151 open contracts—nearly double the nearest competitor. That’s not just noise; it’s a vote of confidence. Meanwhile, puts are clustered around $310 (24,544 OI) and $290 (20,376 OI), suggesting some hedging against a potential pullback.

But here’s the kicker: block trades tell a more nuanced story. On Dec 19, someone bought 1,000 contracts of the $260 call (GOOGL20251219C260) for $1.355 million. That’s a big bet on a sharp rally. Conversely, puts like GOOGL20260320P235 (bought for $720k) hint at long-term caution. The message? Traders expect a near-term pop but are bracing for volatility ahead.

News and Analysts: Fuel for the Bull Case

Alphabet’s AI push and cloud growth are no secret. Google Cloud’s 34% YoY revenue jump and Pivotal Research’s $400 price target (up from $340 in October) align with the options data. But don’t ignore the headwinds: that EU antitrust probe could dent sentiment if fines materialize. Analysts’ median $300 target feels like a floor, not a ceiling—especially with institutional buyers like UBS and FMR adding shares in Q3.

Actionable Trade Ideas for Today

For options players:

• Bullish Play: Buy the GOOGL20251219C335 call if the stock breaks above $317.50 (today’s OI-heavy call strike). Target: $335+ by Dec 19.
• Bearish Hedge: Sell the GOOGL20251219P310 put if the price dips below $302.97 (middle Bollinger Band).

For stock traders:

• Entry: Consider buying GOOGL near $302.97 if support holds, with a target at $335 (aligning with heavy call OI).
• Stop-Loss: Exit if the price falls below $285 (30D support level).

Volatility on the Horizon

The next two weeks will test GOOGL’s momentum. A break above $317.50 could trigger a rush to the $335 calls, while a drop below $300 might force puts into play. Keep an eye on the EU probe—bad news there could erase gains fast. For now, the data leans bullish, but don’t ignore the puts. This isn’t a one-way bet; it’s a dance between AI optimism and regulatory reality.