Smart Money Is Betting Big In PLTR Options

Investors with a lot of money to spend have taken a bullish stance on Palantir Technologies 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 14 uncommon options trades for Palantir Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 57% bullish and 42%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $63,876, and 12 are calls, for a total amount of $866,976.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $13.0 to $32.0 for Palantir Technologies over the recent three months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Palantir Technologies options trades today is 13107.92 with a total volume of 15,904.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Palantir Technologies's big money trades within a strike price range of $13.0 to $32.0 over the last 30 days.

Palantir Technologies 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

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 trading volume of 27,706,793, the price of PLTR is up by 0.68%, reaching $23.72.
• Current RSI values indicate that the stock is may be overbought.
• Next earnings report is scheduled for 69 days from now.

What Analysts Are Saying About Palantir Technologies

5 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.

• Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Palantir Technologies, targeting a price of $30.
• An analyst from Jefferies has elevated its stance to Hold, setting a new price target at $22.
• Reflecting concerns, an analyst from RBC Capital lowers its rating to Underperform with a new price target of $5.
• An analyst from Raymond James has decided to maintain their Outperform rating on Palantir Technologies, which currently sits at a price target of $25.
• Consistent in their evaluation, an analyst from Mizuho keeps a Neutral rating on Palantir Technologies with a target price of $18.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Palantir Technologies with Benzinga Pro for real-time alerts.