Google's Secret Spinoff, Aalyria, Revealed on Monday

The project has received an $8.7 million government defense project

Digital Content Manager
Sep 12, 2022 at 9:26 AM
facebook twitter linkedin

Alphabet Inc's (NASDAQ:GOOGL) Google just revealed a secret project the company has been working on called Aalyria. The spinout software will "radically" improve cellular connectivity, as well as Wi-Fi for travelers, and satellite communication, and will be funded by an $8.7 million government defense contract. While few details have been released about the software so far, Aalyria is promised to be a series of "hyper fast, ultra-secure, and highly complex communications networks."

The tech giant's stock is little changed this morning, last seen up 0.05% at $110.70. The equity has seen some rocky trading during the past couple months, with a recent post-earnings rally losing momentum at the 140-day moving average. The stock found its footing at a familiar floor at the $150 level, however, and now looks like it's back on its way up the charts. GOOGL has a ways to go, though, if it wants to cut into its 23.6% year-to-date deficit. 

Analysts remain incredibly bullish. Of the 30 in coverage, 29 call the stock a "buy" or better. Plus, the 12-month consensus price target of $143.47 is a 29.5% premium to Friday's close. 

Options traders have also taken an optimistic stance. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity sports a 50-day put/call volume ratio of 1.70, which sits higher than 69% of readings from the past year. 

Similarly, the stock's Schaeffer's put/call open interest ratio (SOIR) of 0.80 stands in the relatively low 29th percentile of its 12-month range. In other words, short-term options traders have a clear preference for calls right now. 



Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

Schaeffer's Daily Bulletin Offer


Special Offers from Schaeffer's Trading Partners