Deep-pocketed investors have adopted a bullish approach towards Palantir Technologies 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 14 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 64% leaning bullish and 35% bearish. Among these notable options, 3 are puts, totaling $142,434, and 11 are calls, amounting to $546,181.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $26.0 to $40.0 for Palantir Technologies over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Palantir Technologies stands at 6693.21, with a total volume reaching 15,740.00. 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 $26.0 to $40.0, throughout the last 30 days.
Palantir Technologies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PLTR | CALL | TRADE | BULLISH | 11/15/24 | $1.35 | $1.32 | $1.34 | $40.00 | $201.0K | 10.5K | 289 |
| PLTR | PUT | SWEEP | BULLISH | 01/16/26 | $12.15 | $11.95 | $12.1 | $37.00 | $82.2K | 110 | 2 |
| PLTR | CALL | TRADE | BEARISH | 12/18/26 | $7.6 | $7.45 | $7.45 | $40.00 | $64.0K | 624 | 16 |
| PLTR | CALL | TRADE | BEARISH | 01/17/25 | $5.15 | $4.65 | $4.7 | $28.00 | $47.0K | 1.0K | 0 |
| PLTR | CALL | SWEEP | BEARISH | 08/09/24 | $1.92 | $1.89 | $1.88 | $30.00 | $43.2K | 3.8K | 1.7K |
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.
Following our analysis of the options activities associated with Palantir Technologies, we pivot to a closer look at the company's own performance.
Palantir Technologies's Current Market Status
- With a volume of 23,838,207, the price of PLTR is up 3.87% at $29.16.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 21 days.
Professional Analyst Ratings for Palantir Technologies
In the last month, 2 experts released ratings on this stock with an average target price of $24.5.
- Reflecting concerns, an analyst from Argus Research lowers its rating to Buy with a new price target of $29.
- Reflecting concerns, an analyst from Monness, Crespi, Hardt lowers its rating to Sell with a new price target of $20.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Palantir Technologies, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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