Alphabet (GOOGL) Options Signal Bullish Momentum: Key Strike Levels and Strategic Entry Points for 2026

• Alphabet acquires Intersect for $4.5B to boost AI/cloud infrastructure
• Options data shows heavy call open interest at $315–$320, with a put/call ratio of 0.81
• Block trades hint at institutional bets on both sides ahead of 2026

Here’s the thing: GOOGL’s options market is whispering a clear message—traders are pricing in a strong bias for upside, but not without risks. With the stock trading near $313.26 and technical indicators pointing higher, the question isn’t if it’ll move—it’s how to position for it. Let’s break it down.

Bullish Pressure at $315–$320, But Puts Signal Caution

The options chain is packed with clues. This Friday’s top OTM calls are clustered at $315 (OI: 7,981), $317.5 (OI: 5,407), and $320 (OI: 9,982), while puts are heavy at $312.5 (OI: 7,708) and $310 (OI: 5,670). That’s not random—it’s a textbook setup for a breakout. Think of it like a tug-of-war: calls are pulling the price toward $320+, while puts act as a safety net for a pullback to $310–$312.50.

Block trades add intrigue. The GOOGL20260116P240 put (2,000 contracts) and GOOGL20251219C260 call (1,000 contracts) suggest big players are hedging or betting on volatility. The $240 put, expiring Jan 16, 2026, could signal a floor if the stock dips after the acquisition news digests. Meanwhile, the $260 call (Dec 19 expiry) hints at short-term bullish conviction.

News Flow: Infrastructure Moves Fuel Long-Term Optimism

Alphabet’s $4.5B Intersect acquisition isn’t just a headline—it’s a strategic play to future-proof its AI and cloud ambitions. Combine that with a 16% revenue jump driven by Google Cloud and a 21-year renewable energy deal, and you’ve got a recipe for sustained growth. Analysts aren’t just nodding; they’re raising price targets to $350–$365. But here’s the catch: big news can create short-term whipsaw. The put block trades at $240 and $275 (GOOGL20260320P235) suggest some hedging against integration risks or market fatigue.

Actionable Trades: Calls for Breakouts, Puts for Protection

For options traders, the GOOGL20260102C315 and GOOGL20260102C320 calls (next Friday expiry) are prime candidates. Why? The $315 strike aligns with the 30D support/resistance range (314.03–314.97), while $320 sits just above the Bollinger Upper Band ($326.18). If the stock holds above $312.27 (today’s intraday low), these strikes offer leverage on a potential push to $325–$330.

Stock traders: Consider entry near $312.27 if support holds. A breakout above $315.08 (today’s high) would validate the bullish case, with a first target at $317.50 (key call OI cluster) and a stretch target at $325. A stop-loss below $312.27 would protect against a breakdown. For downside protection, a put spread at $310–$312.50 could hedge against a pullback.

Volatility on the Horizon: Balancing Bullish Momentum and Defense

Alphabet’s options market is a chessboard. The bullish bias is clear, but the heavy put activity and block trades at $240–$275 show smart money isn’t ignoring risks. As we head into 2026, the key will be whether the stock can hold above $312.27 and test the $315–$320 cluster. If it does, the call options at those strikes could explode in value. If not, the puts at $310 and $240 might become lifelines. Either way, the stage is set for a move—just pick your side before the clock runs out.