NVDAcontentAD

Google Inc. (GOOGL) Holds Bulls' Attention Ahead of Shareholder Meeting

Google Inc's (NASDAQ:GOOGL) weekly 6/5 options are extremely popular today

Jun 2, 2015 at 2:15 PM
facebook X logo linkedin


Call volume is accelerated on Google Inc (NASDAQ:GOOGL) today, ahead of the company's annual shareholder meeting, scheduled for tomorrow at 12 p.m. ET. Over 16,000 calls have changed hands -- almost double the amount of puts -- compared to the expected 11,000 for this time of the day. The weekly 6/5 series makes up nine of GOOGL's 10 most popular options, and the 560-strike call has seen the most action by far. Data conveys buy-to-open activity, as traders bet on the shares to top $560 by week's end, when the contracts expire.

Call players have dominated GOOGL's option pits for several weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the security has amassed a 50-day call/put volume ratio of 1.81, which ranks in the 86th percentile of its annual range.

Looking back, the stock hasn't traded above $560 since April 30, and has underperformed the S&P 500 Index (SPX) during the past three months. Still, GOOGL has been seeing support from its rising 100-week moving average since mid-December, and at last check, the shares were 1.5% higher at $557.64.

Analysts remain extremely bullish on Google Inc (NASDAQ:GOOGL). Of the 29 covering brokerage firms, 24 say it's a "buy" or better, versus five "holds" and not a single "sell." Then there's the stock's average 12-month price target, which at $638.30 represents a 14.5% premium to current levels -- and territory never before explored.

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.

 

futupic

 
 
 
 

Follow us on X, Follow us on Twitter