GOOGL Stock Little Changed After China Accusations

U.S. President Donald Trump said he would look into claims that Google was involved with the Chinese government

Google parent Alphabet Inc (NASDAQ:GOOGL) has made headlines this morning after U.S. President Donald Trump tweeted that he would "take a look" into claims made by tech investor Peter Thiel that the search giant is working with the Chinese government. The shares dipped lower out of the gate this morning, but have since inched their way higher after Google once again reiterated that they "do not work with the Chinese military."

The shares were 0.1% higher to trade at $1,151.19, at last check. The equity is now looking to notch its sixth consecutive win -- marking its longest win streak since April -- should these gains hold. In fact, the shares of GOOGL have been on a tear in recent months. Since its bear gap and subsequent five-month low in early June, the stock has managed to tack on roughly 12%. Now the security is testing resistance at its 80-day moving average -- a trendline it hasn't touched since mid-May.

Calls are slightly accelerated following the news, too, with 9,969 across the tape so far -- more than double the number of puts currently being traded. The July 1,170 call is the most popular, with contracts being opened here, followed by the July 1,120 and 1,125 calls, all of which expire at the end of this week.

This bullish behavior is nothing new, though. In the last 10 days 1.8 calls have been bought for every put on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 80th percentile of its annual range, suggesting a much healthier appetite for calls over puts of late.

GOOGL's Schaeffer's put/call open interest ratio (SOIR) of 0.76 echoes this investor sentiment. This ratio sits in the relatively low 18th percentile of its annual range, suggesting short-term option players have rarely been more call-heavy during the last 12 months.