Options Traders Anticipate $207B Market Move Post-Alphabet Earnings
Options markets are pricing in a potential 6.6% swing—equivalent to $207 billion in market capitalization—as Alphabet (GOOGL) prepares to release Q3 earnings. The implied volatility suggests traders are bracing for significant price action following Wednesday's closing bell.
KeyBanc analyst Justin Patterson raised his price target to $300 from $265, maintaining an Overweight rating. His bullish thesis centers on accelerating product momentum across Search, Cloud, and Waymo divisions. "Faster product velocity is driving ecosystem-wide momentum," Patterson noted, while adjusting models for both Core operational strength and one-time regulatory impacts.