WSJ headline: Google Loses Most of Appeal of EU Android Decision
Sub-headline: An EU court largely sides with regulators’ decision that Google abused the dominance of Android
BRUSSELS— Alphabet Inc.’s Google lost most of its appeal to overturn the largest antitrust fine it has so far faced globally, a boost to the European Union’s campaign to rein in alleged anticompetitive conduct by big tech companies.
The EU’s General Court in Luxembourg on Wednesday largely upheld a 2018 decision by the EU competition regulator that fined Google $4.33 billion for abusing the market dominance of its Android operating system for mobile phones to promote and entrench its Google search engine and Chrome browser on mobile devices.
The ruling means Google will very likely continue applying some of the changes it has made since to comply with the EU’s 2018 decision, including offering users in the EU a choice screen of different search engines. The Android case was the biggest of three antitrust fines totaling more than $8 billion that the EU has levied against Google since 2017—and it focused on mobile phones, one of the company’s fastest growth areas.
$GOOGL Daily chart
$GOOGL weekly chart
$GOOGL monthly chart
A few of the interesting options chains I’m looking over for $GOOGL calls:
Nov 18, 2022 CALL Strike 105
Open Interest: 19,466
Implied Volatility: 37.84%
DEC 16, 2022 CALL Strike 115
Open Interest: 5,319
Implied Volatility: 33.68%
JAN 20, 2023 CALL Strike 135
Open Interest: 53,835
Implied Volatility: 31.56%
Rob and other options players, take a peek and see if you find others options setups. Wash all these lawsuits out of the way and this could fly. Big hit yesterday, but, yesterday’s candlestick on the daily was the third test of a bottom. If this takes off from a triple bottom, we will want to be sitting on some CALLs further out for a bit of safety built in. Next Earnings = 24 OCT 22.