This Is What Whales Are Betting On Palantir Technologies

Someone with a lot of money to spend has taken a bearish stance on Palantir Technologies PLTR.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 17 uncommon options trades for Palantir Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.

Out of all of the special options we uncovered, 11 are puts, for a total amount of $1,240,790, and 6 are calls, for a total amount of $293,870.

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 $3.0 to $15.0 for Palantir Technologies over the last 3 months.

Volume & Open Interest Development

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 $3.0 to $15.0 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 BULLISH 01/19/24 $10.00 $400.0K 42.2K 1.0K
PLTR PUT SWEEP BULLISH 01/19/24 $10.00 $198.2K 42.2K 1.5K
PLTR PUT SWEEP BULLISH 01/19/24 $7.00 $138.2K 28.9K 820
PLTR PUT SWEEP BULLISH 08/18/23 $5.00 $116.0K 572 1
PLTR PUT SWEEP BULLISH 01/17/25 $15.00 $89.6K 761 110

Where Is Palantir Technologies Standing Right Now?

  • With a volume of 24,649,339, the price of PLTR is down -3.12% at $6.38.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 42 days.

What The Experts Say On Palantir Technologies:

  • Morgan Stanley has decided to maintain their Equal-Weight rating on Palantir Technologies, which currently sits at a price target of $8.
  • Jefferies downgraded its action to Hold with a price target of $7
  • Wolfe Research downgraded its action to Underperform with a price target of $4

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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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