AAL

Alphabet Stock Dips After Ad Revenue Falls Short

Options traders were quick to respond

Deputy Editor
Jan 31, 2024 at 10:42 AM
facebook X logo linkedin


Shares of Alphabet Inc (NASDAQ:GOOGL) are pulling back sharply after the Big Tech powerhouse and Google parent's fourth-quarter earnings report. Though the company turned in better-than-expected earnings and revenue, its advertising revenue disappointed Wall Street. Plus, Alphabet and Microsoft's (MSFT) artificial intelligence (AI) cost projections are weighing on tech today. 

Falling further from its Jan. 29 all-time high of $153.51, GOOGL was last seen down 5.7% at $142.82. The stock seems to be getting a little support from a familiar floor at the $152 level. Still, today's drop puts a significant dip in a once healthy year-to-date gain, with the shares now up just 1.5% in 2024.   

Options traders have been quick to the trigger. So far, 115,000 calls and 73,000 puts have crossed the tape, or five times the average intraday volume. The weekly 2/2 147-strike call is leading the pack, followed by the 140-strike put from the same series, with positions being bought to open at both. 

Short-term options traders are likely cheering the dip, as they've been more put-biased than usual of late. This is per GOOGL's Schaeffer's put/call open interest ratio of 1.11, which stands in the 99th percentile of annual readings. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.