Investors with a lot of money to spend have taken a bearish stance on Palantir Technologies PLTR.
And retail traders should know.
We noticed this today when the trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 9 uncommon options trades for Palantir Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $202,337, and 4 are calls, for a total amount of $339,253.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $20.0 for Palantir Technologies over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Palantir Technologies's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Palantir Technologies's whale activity within a strike price range from $15.0 to $20.0 in the last 30 days.
Palantir Technologies Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PLTR | CALL | SWEEP | NEUTRAL | 02/16/24 | $18.00 | $200.3K | 16.3K | 1.3K |
| PLTR | PUT | SWEEP | BEARISH | 08/16/24 | $20.00 | $88.3K | 73 | 200 |
| PLTR | CALL | SWEEP | BEARISH | 01/12/24 | $16.50 | $67.2K | 12.2K | 1.1K |
| PLTR | CALL | SWEEP | BULLISH | 02/16/24 | $17.00 | $41.3K | 15.2K | 444 |
| PLTR | PUT | TRADE | NEUTRAL | 02/02/24 | $20.00 | $30.8K | 158 | 0 |
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.
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.
Palantir Technologies's Current Market Status
- With a volume of 8,653,677, the price of PLTR is up 0.12% at $16.7.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 31 days.
What The Experts Say On Palantir Technologies
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $13.0.
- In a cautious move, an analyst from Jefferies downgraded its rating to Underperform, setting a price target of $13.
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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