On Wednesday, options trading volume for Google parent Alphabet and Microsoft was more than 50% higher than their 30-day average. CNBC analysts noted that these trades could signal significant future gains for both stocks. On the day, Alphabet shares rose 2.7% and Microsoft rose 1.8%, after better-than-expected economic data and softer inflation data boosted market sentiment. Alphabet's call options trading was particularly active, with more than twice as many calls bought as puts, and over $260 million in option premiums related to call options. Microsoft's options trading volume also approached $500 million, with $400 million related to call options.