Options Market Statistics: Palantir Options Pop as Traders Bet on Its Earnings
News Highlights
$Palantir (PLTR.US)$ shares ended 8.06% higher, with option volume of nearly 1.20 million contracts, and calls accounted for 65.2% of the volume. The $25 and 30 calls expiring May 10, 2024 were traded most actively.
Palantir shares fell as much as 7% in extended trading on Monday after the defense-technology firm reported weaker-than-expected guidance.
Here's how the company did compared to LSEG estimates:
Earnings per share: 8 cents adjusted vs. 8 cents expected
Revenues: $634 million vs. $625 million expected
The firm, which builds big-data and artificial intelligence software for governments and corporations worldwide, also issued guidance for the second quarter and full year. Palantir expects current quarter revenue to fall between $649 million to $653 million, versus the $653 million expected by LSEG. The company guided to full-year revenue between $2.68 billion and $2.69 billion, weaker than an LSEG consensus estimate of $2.71 billion.
We anticipate that our U.S. commercial business, which accounted for 24% of our revenue last quarter, will remain one of the most significant drivers of our growth in the near term," CEO Alex Karp said in a letter to shareholders.
$NVIDIA (NVDA.US)$ shares ended 3.77% higher, with option volume of nearly 1.14 million contracts, and calls accounted for 62.7% of the volume. The $920 and 950 calls expiring May 10, 2024 were traded most actively.
Analysts remain bullish on Nvidia, with a consensus price target of $949.36 a share and a rating of "Buy" for the stock, with the most recent ratings citing a potential upside of 31.5% from the current price.
$Marathon Digital (MARA.US)$ shares ended 17.98% higher. Its options trading volume was 0.42 million. Call contracts account for 71.8% of the total trading volume. The most traded contracts are $21 strike price calls that expire on May 10th. The total volume reaches 29,254 contracts.
On Monday, Marathon Digital, a Bitcoin miner company, saw its stock MARA price surge by quite a bit. The rush followed the news that S&P Global had added Marathon Digital to its S&P SmallCap 600 index. This move pushed the shares of Marathon Digital higher by 18%, to $20.67 a share. The company increased its value from $4.7 billion to $5.5 billion in market capitalization.
Unusual Stock Options Activity
There was a noteworthy activity in $NVIDIA (NVDA.US)$, where multiple puts have topped volume to open interest ranking. The highest volume over open interest ratio reaches 196.2x with nearly 24,329 contracts.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, The Guardian, Bloomberg
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Chewie2000 : Great article