Notable Thursday Option Activity: TGT, GOOGL, TJX

Alphabet (GOOGL) and TJX Companies (TJX) recently exhibited significant options trading volume, with GOOGL's 226,376 contracts representing 56.1% of its average daily stock volume, and TJX's 23,208 contracts representing 49.4%. Notably, GOOGL saw substantial activity in its September 2025 $240 strike put options (14,360 contracts), suggesting hedging or bearish positioning, while TJX experienced high volume in its September 2025 $143 strike call options (13,299 contracts), indicating potential bullish sentiment or upside exposure in these long-dated contracts.

Analysis

Significant and divergent options activity has been observed in Alphabet (GOOGL) and TJX Companies (TJX), signaling distinct investor sentiment through long-dated derivatives. For GOOGL, options volume reached 226,376 contracts, equivalent to 56.1% of its average daily share volume. Notably, a large block of 14,360 contracts traded on the September 2025 $240 strike put, indicating a substantial bearish bet or a significant hedge against a long-term price decline below $240. Conversely, TJX saw options volume of 23,208 contracts, representing 49.4% of its daily average. The activity was heavily concentrated in the September 2025 $143 strike call, with 13,299 contracts traded. This suggests a strong bullish conviction on TJX's long-term upside potential, with market participants positioning for the stock to appreciate beyond $143 over the next year. The long expiration dates on both trades imply these are strategic, rather than tactical, positions, reflecting a divergence in long-term outlook between a major technology firm and a leading off-price retailer.

Key Decisions for Investors

• Investors with long positions in GOOGL should be aware of the significant bearish or hedging activity at the $240 strike for September 2025, as it may represent institutional hedging that could create price resistance or signal perceived long-term risk.