Palantir Technologies's Options: A Look at What the Big Money is Thinking
Deep-pocketed investors have adopted a bearish approach towards Palantir Technologies (NYSE:PLTR), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in PLTR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 36 extraordinary options activities for Palantir Technologies. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 47% bearish. Among these notable options, 15 are puts, totaling $791,259, and 21 are calls, amounting to $2,016,848.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $41.0 for Palantir Technologies during the past quarter.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Palantir Technologies stands at 8063.19, with a total volume reaching 132,295.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palantir Technologies, situated within the strike price corridor from $10.0 to $41.0, throughout the last 30 days.
Palantir Technologies Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PLTR | CALL | TRADE | BEARISH | 09/20/24 | $5.25 | $5.2 | $5.2 | $25.00 | $1.0M | 13.1K | 8.1K |
| PLTR | CALL | SWEEP | BULLISH | 01/17/25 | $3.05 | $2.97 | $3.05 | $35.00 | $183.0K | 18.6K | 852 |
| PLTR | PUT | SWEEP | BULLISH | 01/17/25 | $12.9 | $12.8 | $12.8 | $41.00 | $153.6K | 43 | 1 |
| PLTR | PUT | SWEEP | BEARISH | 10/18/24 | $3.95 | $3.9 | $3.95 | $30.00 | $103.8K | 718 | 27 |
| PLTR | CALL | SWEEP | BEARISH | 09/20/24 | $5.75 | $5.7 | $5.7 | $25.00 | $87.2K | 13.1K | 7.5K |
About Palantir Technologies
Palantir is an analytical software company that focuses on leveraging data to create efficiencies in its clients' organizations. The firm serves commercial and government clients via its Foundry and Gotham platforms, respectively. The Denver-based company was founded in 2003 and went public in 2020.
After a thorough review of the options trading surrounding Palantir Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Palantir Technologies
- Trading volume stands at 62,708,551, with PLTR's price up by 1.29%, positioned at $28.59.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 18 days.
What The Experts Say On Palantir Technologies
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $21.0.
- Reflecting concerns, an analyst from Mizuho lowers its rating to Underperform with a new price target of $22.
- Reflecting concerns, an analyst from Monness, Crespi, Hardt lowers its rating to Sell with a new price target of $20.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Palantir Technologies with Benzinga Pro for real-time alerts.