Alphabet closed at $349.52, rising 0.16%.
Options activity in Alphabet showed a pronounced bullish tilt, headlined by a $3.36 million put sale at the $345.00 strike. The block trade dominated large-order flow, while overall call volume outpaced put volume by a ratio of 2.33. With elevated implied volatility, institutional sellers appear to be collecting rich premium while expressing confidence that Alphabet can hold above the sold strike.
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Options Indicators
Alphabet’s implied volatility is 38.12%, and with an IV percentile of 77.29%, current volatility sits in an elevated range, indicating that options are priced expensively relative to their own recent history. The IV/HV ratio of 1.86 also shows implied volatility is running well above realized volatility, suggesting the options market is embedding a sizable premium for expected movement. The Call/Put volume ratio is 2.33.
Large Trades
A PUT sale worth $3.36 million stood out as the key large trade in GOOG, with 1,809 contracts of the January 15, 2027 $345.00 put sold. With the stock referenced at $349.52, this strike was slightly out of the money at the time, making the trade a moderately bullish expression. Selling an out-of-the-money put at this level typically signals a willingness to accumulate shares on weakness near the strike while collecting option premium upfront, and it also reflects confidence that GOOG can remain above $345.00 into expiration.
Overall, the large-trade flow points to a clear bullish bias in GOOG. The activity was entirely skewed toward premium-selling on the put side, with no meaningful bearish large trades to offset it, which suggests institutional participants were more comfortable expressing constructive downside support than positioning for a decline. Taken together, the block flow implies expectations for stability to modest upside, with sentiment leaning bullish rather than defensive.
Strategy Reference
For sellers seeking a lower assignment probability than the $345.00 strike on the January 15, 2027 expiration, the $300.00 put offers a wider cushion while still benefiting from Alphabet’s elevated IV percentile of 77.29%. Alternatively, traders who prefer not to post the full margin requirement of a naked put may consider a $345.00/$300.00 put credit spread, which defines risk and capital usage while maintaining a bullish posture through premium collection.
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