The options trade shown highlights a large put sweep in Alphabet (GOOG) targeting the February 13, 2026 $322.50 put. The trade executed at the ask as a buy, with a sizable 4,631-contract order priced at $7.40, resulting in approximately $3.4 million in premium spent. Total volume reached 4,715 contracts, while open interest was just 213, producing an extremely elevated V/OI ratio of roughly 22x, which strongly points to new positioning rather than existing liquidity.
With GOOG trading near $325, the strike sits slightly in-the-money, and the expiration is roughly 1 months out, suggesting the buyer is positioning for protection or a shorter-term thesis rather than a short-term hedge. Overall, the combination of sweep execution, heavy premium outlay, and outsized volume relative to open interest signals high-conviction institutional demand for exposure in GOOG.
Volume and Open Interest Data
The volume and open interest data for the GOOG February 13, 2026 $322.50 put shows a sharp, one-day explosion in activity that dwarfs prior sessions, signaling aggressive new positioning. On 02/05/26, volume surged to 5,080 contracts, while open interest stood at 213, producing an exceptional V/OI ratio of nearly 24x, a hallmark of institutional-sized trades opening fresh exposure. Open interest increased by +88 contracts on the day from the previous trading session, confirming that a meaningful portion of the flow resulted in new positions being established rather than just intraday churn.
Notably, this spike in volume coincided with a steep drop in the option’s price from $7.45 to $4.42, suggesting heavy put buying into falling premiums, potentially as volatility compressed. Overall, the data reinforces the earlier sweep signal and points to high-conviction, shorter-dated protective positioning in GOOG, with traders willing to deploy size as prices moved in their favor.
More Notable Options Trades Observed
The option order flow also highlighted a large, long-dated put sweep in GOOG, pointing to meaningful positioning. The trade targets the December 17, 2027 $300 put and executed as a buy sweep, with 1,000 contractspurchased at an average price of $42.70, representing approximately $4.3 million in premium paid. Total volume reached 2,387 contracts, compared to open interest of 524, resulting in a V/OI ratio of roughly 4.6x, which suggests a significant amount of new positioning layered on top of existing interest.
With GOOG trading near $323, the strike sits well below spot, indicating the buyer is either hedging substantial long exposure or expressing a high-conviction, long-term outlook extending nearly two years out to expiration. Overall, the size, sweep execution, and long duration signal institutional-level conviction and reinforces the broader theme of protection or structural positioning emerging in GOOG options.
What’s Happening with GOOG
Alphabet, Google’s parent company, just reported a strong fourth quarter, with revenue rising about 18% to roughly 113.8 billion dollars and earnings per share climbing to 2.82 dollars, both ahead of Wall Street expectations. Search, YouTube, and especially Google Cloud all posted robust growth, helping push annual revenue above 400 billion dollars for the first time as AI-powered products like Gemini drove higher usage across the business.
At the same time, Alphabet shocked investors by forecasting an enormous 2026 capital expenditure budget of 175–185 billion dollars—roughly double last year’s—largely to build out AI data centers and infrastructure. The plan that has sparked concerns about margins and triggered a sharp pullback in the stock despite the strong current results. Alongside the financial news, Google has rolled out major Gemini updates, including “Personal Intelligence” in the Gemini app and deeper integration into Chrome and other Google services, underscoring how central AI is to its product roadmap.
About GOOG
Google, a subsidiary of Alphabet Inc., is a global technology leader best known for its dominant internet search engine, which powers a vast advertising ecosystem across Search, YouTube, and partner networks. The company generates the majority of its revenue from digital advertising, leveraging user data and intent to deliver targeted ads at scale.
Beyond advertising, Google operates a rapidly growing cloud business through Google Cloud Platform, offering infrastructure, data analytics, and AI services to enterprises worldwide. It also develops widely used consumer products such as Android, Chrome, Gmail, Google Maps, and YouTube, while investing heavily in artificial intelligence, hardware, and long-term innovation initiatives that support its position at the center of the digital economy.
Analyst Ratings
| Firm / Source | Rating / View | Last Updated |
|---|---|---|
| CFRA | ⭐⭐⭐⭐ (Buy / Long) | 02/05/2026 |
| Market Edge | Long | 05/27/2025 |
| Argus | No Data | — |
| Morningstar | ⭐⭐⭐ (Hold) | 02/05/2026 |
| LSEG | Outperform | 02/05/2026 |
| Schwab Equity Ratings | B | 02/05/2026 |
Analyst sentiment on Alphabet (GOOG) remains constructively bullish overall, with most coverage leaning positive despite some variation in conviction. CFRA maintains a four-star Buy/Long rating, signaling strong confidence in Google’s forward outlook, while Market Edge continues to rate the stock Long, reinforcing positive trend and momentum signals. LSEG’s Outperform rating suggests expectations for returns above the broader market, and Schwab’s B ratingreflects solid fundamentals with manageable risk.
Morningstar stands out as the most cautious voice, assigning a three-star Hold, implying the stock is trading near fair value rather than offering outsized upside. Taken together, the ratings paint a picture of broad institutional confidence in Google’s long-term business strength, with mild valuation-based caution rather than outright bearishness.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
