What the Options Market Tells Us About Palantir Technologies

Investors with a lot of money to spend have taken a bullish stance on Palantir Technologies PLTR.

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with PLTR, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 20 options trades for Palantir Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 35%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $40,099, and 19, calls, for a total amount of $2,691,462.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $70.0 to $100.0 for Palantir Technologies over the last 3 months.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Palantir Technologies's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Palantir Technologies's significant trades, within a strike price range of $70.0 to $100.0, over the past month.

Palantir Technologies 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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. Palantir works only with entities in Western-allied nations and reserves the right not to work with anyone that is antithetical to Western values. The Denver-based company was founded in 2003 and went public in 2020.

In light of the recent options history for Palantir Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is Palantir Technologies Standing Right Now?

• With a volume of 5,583,587, the price of PLTR is up 3.63% at $88.0.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 63 days.

What Analysts Are Saying About Palantir Technologies

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $84.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Northland Capital Markets persists with their Market Perform rating on Palantir Technologies, maintaining a target price of $80. * Consistent in their evaluation, an analyst from Jefferies keeps a Underperform rating on Palantir Technologies with a target price of $60. * An analyst from Mizuho persists with their Underperform rating on Palantir Technologies, maintaining a target price of $80. * An analyst from DA Davidson persists with their Neutral rating on Palantir Technologies, maintaining a target price of $105. * In a positive move, an analyst from Morgan Stanley has upgraded their rating to Equal-Weight and adjusted the price target to $95.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Palantir Technologies options trades with real-time alerts from Benzinga Pro.