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 10 options trades for Palantir Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 40%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $34,890, and 9, calls, for a total amount of $726,870.
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 $20.0 to $36.0 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 $20.0 to $36.0 in the last 30 days.
Palantir Technologies Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PLTR | CALL | SWEEP | BEARISH | 09/20/24 | $0.7 | $0.75 | $0.75 | $35.00 | $190.3K | 35.6K | 0 |
| PLTR | CALL | SWEEP | BULLISH | 03/21/25 | $13.75 | $13.7 | $13.75 | $22.00 | $137.5K | 895 | 0 |
| PLTR | CALL | SWEEP | BEARISH | 01/17/25 | $4.05 | $4.0 | $4.0 | $35.00 | $75.6K | 22.1K | 222 |
| PLTR | CALL | SWEEP | BULLISH | 09/13/24 | $1.24 | $1.23 | $1.24 | $33.00 | $71.6K | 10.6K | 391 |
| PLTR | CALL | TRADE | BEARISH | 11/15/24 | $3.1 | $3.0 | $3.0 | $35.00 | $60.0K | 8.8K | 611 |
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
- Trading volume stands at 10,997,211, with PLTR's price down by -2.25%, positioned at $33.98.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 50 days.
Expert Opinions on Palantir Technologies
3 market experts have recently issued ratings for this stock, with a consensus target price of $41.0.
- In a cautious move, an analyst from Wedbush downgraded its rating to Outperform, setting a price target of $38.
- An analyst from B of A Securities persists with their Buy rating on Palantir Technologies, maintaining a target price of $50.
- In a cautious move, an analyst from Northland Capital Markets downgraded its rating to Market Perform, setting a price target of $35.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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