Palantir Joins Nvidia, SMCI, Tesla in Top 4 Options Volume as Stock Hits Fresh Record
$Palantir (PLTR.US)$ is attracting the fourth heaviest stock options volume as shares resume their record-breaking rally after the software company said it won authorization that allows it to expand its product offerings to the U.S. federal government.
Shares gained as much as 6.5% Tuesday morning to a fresh intra-day record of $70.73 after the company said it was granted the FedRAMP High Authorization. FedRAMP is a program that promotes the adoption of secure cloud services across the federal government and the authorization means Palantir has met stringent security requirements set by the U.S.
That could help Palantir accelerate its work with "big and small, government or commercial, to enable their technology to be securely operated" on behalf of U.S. government, Akash Jain, Palantir USG president, said in a press release Tuesday.
More than 553,600 Palantir options changed hands as of 11:28 a.m. in New York. That puts Palantir at top 4 in the list of the most active stock options, behind $NVIDIA (NVDA.US)$, $Super Micro Computer (SMCI.US)$ and $Tesla (TSLA.US)$. (To see the stock options ranking, click here.)
Call options that give the holders the right to buy Palantir's stock at $70 in three days attracted the heaviest volume among contracts linked to the shares. That came after the share price rally boosted the probability that the calls options could be in-the-money before it expires on Friday.
The price of the $70 call options 331% to $1.68, with the shares trading less than 20 cents below that strike price. The share price rallied after the news from the company that derives more than half of its revenue from government contracts.
Share your thoughts on Palantir or any of the other top 3 stock options including Nvidia, SMCI and Tesla in the comments section. And let us know whether you think Palantir's rally is just getting started or is near the peak.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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