Investors with a lot of money to spend have taken a bullish stance on Palantir Technologies (NYSE: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 16 uncommon options trades for Palantir Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 62% bullish and 31%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $130,057, and 13 are calls, for a total amount of $453,926.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $13.0 to $40.0 for Palantir Technologies over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $13.0 to $40.0 in the last 30 days.
Palantir Technologies Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PLTR | CALL | SWEEP | BULLISH | 09/20/24 | $0.64 | $0.63 | $0.64 | $34.00 | $70.9K | 8.0K | 1.5K |
| PLTR | PUT | TRADE | BULLISH | 10/18/24 | $1.4 | $1.39 | $1.39 | $24.00 | $61.9K | 3.1K | 521 |
| PLTR | CALL | SWEEP | BULLISH | 10/18/24 | $2.71 | $2.68 | $2.71 | $28.00 | $54.1K | 7.0K | 1.2K |
| PLTR | CALL | TRADE | BEARISH | 08/16/24 | $2.63 | $2.6 | $2.6 | $26.00 | $38.2K | 12.8K | 328 |
| PLTR | PUT | TRADE | BULLISH | 12/18/26 | $1.5 | $1.47 | $1.47 | $13.00 | $36.7K | 250 | 267 |
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.
Having examined the options trading patterns of Palantir Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Palantir Technologies's Current Market Status
- With a volume of 11,498,983, the price of PLTR is up 3.46% at $27.28.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 days.
Expert Opinions on Palantir Technologies
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $26.0.
- An analyst from Jefferies has decided to maintain their Hold rating on Palantir Technologies, which currently sits at a price target of $28.
- An analyst from Citigroup persists with their Neutral rating on Palantir Technologies, maintaining a target price of $28.
- An analyst from Mizuho downgraded its action to Underperform with a price target of $22.
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.