Meet the Tech Stock Powering the Nasdaq-100 Today

Core Viewpoint - The Nasdaq-100 index is experiencing its best week since early November, driven by a significant 10.5% increase in Alphabet Inc Class A shares following strong earnings and a stock buyback announcement [1] Group 1: Company Performance - Alphabet Inc Class A shares reached a trading price of $172.17, with a record high of $174.17 after reporting first-quarter earnings and revenue that exceeded expectations [1] - The company announced a $70 billion stock buyback plan and introduced its first dividend, contributing to investor confidence [1] - Alphabet's stock has increased by 60% year-over-year and 23% in 2024, leading to a market capitalization of $2 trillion, joining the ranks of Apple, Nvidia, and Microsoft [1] Group 2: Options Activity - Over 778,000 options have been traded, with 557,000 calls significantly outpacing 220,000 puts, indicating bullish sentiment [2] - Total options volume is currently four times the average intraday amount, highlighting increased trading activity [2] - The weekly 5/3 175-strike call option is seeing notable activity, suggesting it is a key option to monitor [2]