Alphabet Unusual Options Activity For August 24
Portfolio Pulse from Benzinga Insights
A significant bearish stance on Alphabet (NASDAQ:GOOGL) has been observed through unusual options activity. The sentiment among big-money traders is split between 47% bullish and 52% bearish. Whales have been targeting a price range from $45.0 to $180.0 for Alphabet over the last 3 months. The price of GOOGL is down -1.11% at $130.9. Analysts from Evercore ISI Group, Rosenblatt, Wells Fargo, RBC Capital, and Wedbush have maintained their ratings on Alphabet, with price targets ranging from $121 to $163.
August 24, 2023 | 4:31 pm
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Unusual options activity and a bearish sentiment could impact Alphabet's stock price. Analysts maintain their ratings with varying price targets.
The bearish sentiment observed in the options activity indicates that investors are expecting the stock price to decrease. This, combined with the fact that the stock price is currently down, could lead to a further decrease in the short term. However, analysts maintaining their ratings indicates a level of confidence in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100