InvestorsHub Logo
Followers 682
Posts 142053
Boards Moderated 35
Alias Born 03/10/2004

Re: None

Thursday, 12/07/2023 3:19:24 PM

Thursday, December 07, 2023 3:19:24 PM

Post# of 9934
Options Traders Respond to Alphabet's (GOOGL) New AI Model
By: Schaeffer's Investment Research | December 7, 2023

• Competition for OpenAI's ChatGPT is here

• GOOGL's total options volume is running at four times the intraday average

In more artificial intelligence (AI) news, Alphabet Inc (NASDAQ:GOOGL) today launched its Gemini AI model, which could compete with OpenAI, the parent of ChatGPT that is backed by Microsoft (MSFT). At last check, GOOGL is up 5.6% at $137.26.

The options pits are abuzz, with 456,000 calls and 255,00 puts exchanged so far -- four times the intraday average amount. The December 140 call, where new positions are being opened, is the most popular contract.

These traders are getting a bargain, as GOOGL's Schaeffer's Volatility Index (SVI) of 25% stands in the relatively low 16th percentile of annual readings. This means options traders are pricing in lower-than-usual volatility expectations.

Today's surge puts Alphabet stock back above its 20-day moving average, after the $128 level captured a brief pullback earlier in the week. The security could also make another attempt to conquer the $140 mark, where its October rally lost steam. For 2023, GOOGL sports a 55.6% lead.



Read Full Story »»»

DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent GOOG News