Alphabet A (GOOGL) Options Signal Key $300 Call Contention as Short-Term Bearish Pressure Meets Long-Term Bullish Setup – Here’s How to Position for Friday’s Expiry

• GOOGL plunges 2.67% to $298.39, breaking below its 30D MA of $301.95
• Options market shows 0.81 put/call open interest ratio, favoring bullish bets
• Block trades hint at $260 call buying and deep put hedging for 2026

Right now, GOOGL is caught in a tug-of-war between short-term sellers and long-term buyers. The stock’s 2.67% drop today has it teetering near key support levels, but the options market tells a more nuanced story. Let’s break down what’s really happening—and how to trade it.

The $300 Call Wall and Institutional Whale Moves

If you look at this Friday’s options chain, the $300 call (GOOGL20251219C300) dominates with 18,915 open contracts. That’s not just noise—it’s a liquidity magnet. Sellers of these calls are likely betting the stock won’t rally above $300 by expiry, while buyers see a rebound play if GOOGL stabilizes. Meanwhile, the $290 put (GOOGL20251219P290) has 22,026 open contracts, acting as a short-term floor.

But here’s the twist: A block trade bought 1,000 GOOGL20251219C260 calls today. That’s a bullish signal—someone’s prepping for a rebound to $260+ by Friday. Contrast that with deep puts like the $150 strike (GOOGL20251219P150) with 12,551 open contracts. Those are long-term hedges, not panic selling. The market isn’t bearish—it’s cautiously bullish, hedging against a sharp drop but expecting a rebound.

No Major News, But Options Are Telling a Story

There’s no recent headlines to explain this move, which means the drop is likely technical—sellers cashing in after a long-term uptrend. But here’s the kicker: GOOGL’s 200D MA is at $210.24, and the 30D MA is at $301.95. If the stock holds above $283.93 (its 30D support), the long-term trend stays intact. The options market isn’t reacting to news—it’s positioning for a potential bounce off these key levels.

3 Specific Trades to Consider Today

1. Short-Term Call Play: Buy GOOGL20251219C300 calls if GOOGL rebounds above $296.54 (today’s low). Target a close above $300 by Friday. Why? The $300 strike has massive liquidity, and the block trade at $260 suggests institutional buyers are already primed for a rally.
2. Downside Protection: Buy GOOGL20251219P290 puts if GOOGL breaks below $296.54. This strike has the highest put open interest and acts as a near-term floor. Exit if the stock holds above $288.61 (lower Bollinger Band).
3. Stock Positioning: Consider entering GOOGL near $284 if it holds above that level. Target $311.25 (middle Bollinger Band) as a first exit. Risk is below $283.93—place a stop-loss there.

Volatility on the Horizon: Balancing Short-Term Caution with Long-Term Conviction

GOOGL isn’t in freefall—it’s testing support in a long-term bullish trend. The options market is pricing in a potential rebound, especially with those $300 calls and $260 block trades. But don’t ignore the puts: Deep strikes like $230 and $150 suggest some players are hedging for a worst-case scenario.

Here’s the play: Use Friday’s expiry as a catalyst. If GOOGL stabilizes above $290, the $300 calls could explode. If it breaks below $284, the puts will gain value. Either way, the market isn’t giving up on Alphabet—yet.