GOOG Options Signal Bullish Bias: Target $350 Calls as $4T Milestone Fuels AI-Driven Growth

• GOOG trades at $333.07 (-0.96% intraday) amid short-term bullish trends and a $4 trillion market cap milestone
• Options data shows 25,464 open interest at $350 call (this Friday expiry) vs 18,500 open interest at $320 put
• Analyst upgrades, AI partnerships, and $2.4B carbon-free deals validate long-term upside

Here’s the bottom line: options market sentiment and technicals align for a bullish breakout. With RSI at 83.83 and MACD surging above signal line, GOOG is primed to test key resistance levels—despite today’s dip. The stock’s 76.78% annual gain and $355 price target from John Blackledge suggest this correction could be a buying opportunity.

Bullish Imbalance in Options Open Interest

The options chain tells a clear story: bulls are stacking up. For this Friday’s expiry, the $350 call (GOOG20260116C350) leads with 25,464 open interest—nearly double the next strike. This suggests institutional positioning for a post-earnings pop or news-driven rally. Meanwhile, the $320 put (GOOG20260116P320) at 14,706 OI acts as a psychological floor.

But here’s the twist: next Friday’s $335 call (GOOG20260123C335) at 7,951 OI hints traders are hedging for a potential bounce from current levels. With Bollinger Bands showing the 20-day SMA at $317.09 and price near the upper band, volatility could spike either way. No major block trades skew the data today, but the put/call ratio of 0.82 (calls dominate) reinforces the bullish tilt.

News Flow Validates Options Bets

The recent $4 trillion valuation isn’t just a number—it’s a validation of Alphabet’s AI dominance. The Apple Siri partnership alone could unlock billions in enterprise AI revenue, while Gemini Enterprise’s 2M subscribers prove enterprise adoption is accelerating.

Don’t dismiss the bear case: that $320 put strike aligns with the 30-day support zone (314.94–315.71). But with BMO Capital raising its target to $343 and Google securing 1.17 GW in carbon-free energy deals, the fundamentals are skewed higher. Even the power grid warning from a Google exec plays into their long-term strategy—renewable partnerships are already in motion.

Actionable Trade Setups

For options traders: buy the GOOG20260123C335 call at $335. With RSI overbought and price near the upper Bollinger Band ($338.03), a pullback to $331.29 (intraday low) could trigger a rebound. Target $345–$350 by next Friday, with a stop below $330.

Stock traders: consider entries near $315.71 (resistance-turned-support) if the 200D SMA ($225.59) holds. A break above $338.13 (intraday high) would target $340 (analyst average) and then $355 (Blackledge’s target). For downside protection, the $327.5 put (GOOG20260123P3275) offers a hedge if the stock corrects.

Volatility on the Horizon

This isn’t just another tech rally—it’s a structural shift. With Gemini powering Siri, Walmart’s AI retail tools launching, and Google Cloud’s AI revenue surging 200%, the catalysts are endless. Yes, RSI at 83.83 warns of a near-term pullback, but the 30D moving average ($317.09) and 200D trend ($225.59) both point higher.

Bottom line: position for a $350+ move while hedging with $320 puts. The options market and fundamentals are in sync—now it’s about timing the entry. As Blackledge said, "Alphabet’s moat keeps widening." Time will tell if today’s dip is a buying opportunity or a pause before the next leg up.