A whale with a lot of money to spend has taken a noticeably bearish stance on Palantir Technologies.
Looking at options history for Palantir Technologies (NYSE:PLTR) we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $491,765 and 4, calls, for a total amount of $157,534.
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 $8.0 to $20.0 for Palantir Technologies over the last 3 months.
Volume & Open Interest Development
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 $8.0 to $20.0 in the last 30 days.
Palantir Technologies Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| PLTR | PUT | SWEEP | BEARISH | 06/30/23 | $13.50 | $234.2K | 2.3K | 1.9K |
| PLTR | CALL | SWEEP | BEARISH | 01/19/24 | $20.00 | $66.5K | 67.9K | 1.1K |
| PLTR | PUT | SWEEP | BEARISH | 06/21/24 | $10.00 | $60.8K | 7.5K | 2.4K |
| PLTR | PUT | SWEEP | BEARISH | 01/19/24 | $8.00 | $38.0K | 5.2K | 952 |
| PLTR | PUT | SWEEP | BULLISH | 03/15/24 | $15.00 | $36.7K | 745 | 383 |
Where Is Palantir Technologies Standing Right Now?
- With a volume of 19,966,282, the price of PLTR is down -3.18% at $14.18.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 46 days.
What The Experts Say On Palantir Technologies:
- Jefferies has decided to maintain their Hold rating on Palantir Technologies, which currently sits at a price target of $14.
- Goldman Sachs has decided to maintain their Neutral rating on Palantir Technologies, which currently sits at a price target of $10.
- Raymond James downgraded its action to Outperform with a price target of $18
- B of A Securities has decided to maintain their Buy rating on Palantir Technologies, which currently sits at a price target of $18.
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.