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Alphabet (GOOG) has dropped just 1.83% in the August sell-off and it's now moving back up. In morning trading on Aug. 22, GOOG stock is at $130.67, down from $133.11 at the end of July. Alphabet's massive free cash flow (FCF) makes it attractive to value investors.
It also appeals to options traders who sell short out-of-the-money (OTM) put options for income.