Palantir Technologies's Options Frenzy: What You Need to Know

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 15 uncommon options trades for Palantir Technologies.

This isn't normal.

The overall sentiment of these big-money traders is split between 53% bullish and 46%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $223,016, and 12 are calls, for a total amount of $1,407,114.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.0 and $22.0 for Palantir Technologies, spanning the last three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Palantir Technologies stands at 6482.0, with a total volume reaching 16,429.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Palantir Technologies, situated within the strike price corridor from $3.0 to $22.0, throughout the last 30 days.

Palantir Technologies Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

Palantir Technologies's Current Market Status

• With a volume of 27,801,153, the price of PLTR is down -0.46% at $19.68.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 87 days.

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.