Looking At Palantir Technologies's Recent Unusual Options Activity

Author: Benzinga Insights | August 28, 2024 10:16am

Financial giants have made a conspicuous bearish move on Palantir Technologies. Our analysis of options history for Palantir Technologies (NYSE:PLTR) revealed 9 unusual trades.

Delving into the details, we found 22% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $119,877, and 7 were calls, valued at $283,155.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $21.0 to $33.0 for Palantir Technologies over the last 3 months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Palantir Technologies's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Palantir Technologies's significant trades, within a strike price range of $21.0 to $33.0, over the past month.

Palantir Technologies Call and Put Volume: 30-Day Overview

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	BULLISH	10/18/24	$3.35	$3.3	$3.3	$33.00	$92.0K	833	279
PLTR	CALL	TRADE	BEARISH	09/20/24	$8.85	$8.6	$8.6	$22.00	$86.0K	3.2K	100
PLTR	CALL	SWEEP	BEARISH	11/15/24	$2.98	$2.95	$2.95	$31.00	$44.2K	4.4K	173
PLTR	CALL	SWEEP	BEARISH	01/17/25	$2.99	$2.97	$2.98	$33.00	$42.3K	2.6K	196
PLTR	CALL	TRADE	BEARISH	09/20/24	$9.6	$9.5	$9.53	$21.00	$28.5K	3.5K	30

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.

After a thorough review of the options trading surrounding Palantir Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Palantir Technologies Standing Right Now?

• With a volume of 5,574,674, the price of PLTR is down -1.74% at $30.3.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 64 days.

What The Experts Say On Palantir Technologies

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.8.

• An analyst from Goldman Sachs persists with their Neutral rating on Palantir Technologies, maintaining a target price of $16.
• An analyst from Raymond James persists with their Outperform rating on Palantir Technologies, maintaining a target price of $30.
• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Sell rating for Palantir Technologies, targeting a price of $21.
• An analyst from DA Davidson has decided to maintain their Neutral rating on Palantir Technologies, which currently sits at a price target of $28.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Underperform with a new price target of $9.

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.

Posted In: PLTR