Mike Khouw Sees Unusual Options Activity In Palantir

On CNBC's "Options Action," Mike Khouw said about 610,000 contracts traded in Palantir Technologies Inc PLTR on Wednesday and calls outpaced puts by about three to one. The most active calls were the 26 strike calls that expire at the end of this week.

Guy Adami sees an opportunity in Palantir as $23.50 has been a support. His bullish catalysts are the recent Goldman Sachs upgrade and a deal with 3M. The company is also going to be able to scale down some of its business offerings to mid-size businesses.

See Also: N95 Mask Producer 3M Expands Use Of Palantir's Foundry Platform To Help With Supply Chain Demand

Karen Finerman said the stock is not cheap, but the growth story is clearly there. This stock is the most interesting for her of all the stocks that crashed.

Steve Grasso sees potential in government contracts and he said the stock could also trade higher for fundamental reasons.

Photo courtesy: Cory Doctorow via Flickr