In this paper we investigate the holographic computation of the two-point functions of -BPS chiral primary operators with scaling dimensions or in SYM using Type IIB supergravity. First we consider giant graviton operators, resolving ambiguities in the previous literature on holographic computation of the two-point function, and make a new proposal for this calculation. We argue that the D3-brane action for the giant gravitons (as well as for their - and -BPS counterparts) should contain additional boundary terms which arise naturally from the path integral and which are required to make the variational problem well-defined. We derive the form of these terms and show that the corrected action has an on-shell value that reproduces the two-point function of the gauge theory operators. Moreover, we demonstrate that these boundary terms are necessary building blocks for the giant graviton three-point functions, and we reproduce the coordinate dependence of the extremal three-point function as a saddle-point for the boundary action. Then we consider operators with and calculate the two-point function by evaluating the Gibbons-Hawking-York boundary term in the Type IIB pseudo-action in the Lin-Lunin-Maldacena bubbling geometry background.

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