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Check Out What Whales Are Doing With PLTR

Author: Benzinga Insights | July 10, 2024 10:33am

Investors with a lot of money to spend have taken a bearish stance on Palantir Technologies (NYSE: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 8 options trades for Palantir Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $52,014, and 7, calls, for a total amount of $231,356.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $13.0 to $29.0 for Palantir Technologies during the past quarter.

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 $13.0 to $29.0 in the last 30 days.

Palantir Technologies Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
PLTR PUT SWEEP BEARISH 10/18/24 $0.55 $0.54 $0.55 $21.00 $52.0K 8.3K 7
PLTR CALL SWEEP BULLISH 07/12/24 $0.29 $0.28 $0.29 $28.00 $39.2K 24.7K 2.6K
PLTR CALL TRADE BEARISH 08/16/24 $1.95 $1.85 $1.85 $29.00 $37.0K 14.4K 1
PLTR CALL TRADE BEARISH 01/16/26 $8.45 $8.35 $8.35 $27.00 $33.4K 8.8K 41
PLTR CALL TRADE BULLISH 01/16/26 $8.3 $8.25 $8.3 $27.00 $33.2K 8.8K 1

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.

In light of the recent options history for Palantir Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Palantir Technologies

  • With a volume of 7,456,624, the price of PLTR is up 0.99% at $27.66.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 26 days.

What The Experts Say On Palantir Technologies

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $24.5.

  • In a cautious move, an analyst from Monness, Crespi, Hardt downgraded its rating to Sell, setting a price target of $20.
  • An analyst from Argus Research has revised its rating downward to Buy, adjusting the price target to $29.

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.

Posted In: PLTR

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