GOOGL → $385.00 by Aug 24, 2026.

GOOGL is currently trapped between $341 and $350. The rejection from the $373 peak and subsequent drop to $345 is tied entirely tied to Alphabet's massive equity raise. Underwriters currently are managig a $30 billion dollar public allocation anchored near a $350 cost basis. To hedge this inventory during distribution, they sold heavy blocks of July 17th $350 covered calls. When retail buying pumped the stock, market makers were forced to dump long stock hedges at the first sign of …