Google Inc (GOOGL) Rally Breeds Confidence Among Traders

Google Inc saw a mix of put selling and call buying on Monday

Digital Content Group
Dec 23, 2014 at 10:35 AM
facebook X logo linkedin


Google Inc (NASDAQ:GOOGL) popped 2.4% yesterday to land at $532.30, after the firm unveiled the first real build of its self-driving vehicle prototype. The rally had options traders exchanging contracts at a slightly accelerated rate, with short-term strikes in demand -- per the stock's 30-day at-the-money implied volatility, which rose 6.3% to 24.5%.

Speculators employed different strategies to express their confidence in GOOGL. The most active option was the January 2015 500-strike put, which was sold to open, as traders expect the half-millennium mark to serve as support through front-month options expiration. This preference for short puts over long has been witnessed over the last 10 weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), where 32,676 puts have been sold to open -- outstripping the 31,369 bought to open.

Meanwhile, shorter-term bettors bought to open GOOGL calls, with particular attention being paid to the weekly 12/26 535 strike. These traders are hoping the stock settles above $535 at this Friday's close, when the series expires. They're in luck, with the shares up 0.9% this morning at $536.80.

Longer term, however, Google Inc (NASDAQ:GOOGL) remains a broad-market laggard. Since the start of 2014, the stock is down 4.3%, and is currently testing a historical level of resistance at its 32-day moving average.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI