Someone with a lot of money to spend has taken a bearish stance on Palantir Technologies (NYSE: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.
Today, Benzinga's options scanner spotted 13 options trades for Palantir Technologies.
This isn't normal.
The overall sentiment of these big-money traders is split between 15% bullish and 84%, bearish.
Out of all of the options we uncovered, 12 are puts, for a total amount of $658,625, and there was 1 call, for a total amount of $41,650.
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 $7.5 to $37.0 for Palantir Technologies over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Palantir Technologies options trades today is 22014.18 with a total volume of 2,512.00.
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 $7.5 to $37.0 over 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 | BEARISH | 01/20/23 | $15.00 | $106.5K | 25.6K | 172 |
| PLTR | PUT | SWEEP | BEARISH | 01/20/23 | $17.50 | $94.5K | 46.4K | 110 |
| PLTR | PUT | SWEEP | BEARISH | 01/20/23 | $10.00 | $91.5K | 45.9K | 351 |
| PLTR | PUT | TRADE | BEARISH | 05/20/22 | $24.00 | $79.0K | 3.7K | 50 |
| PLTR | PUT | TRADE | BEARISH | 01/20/23 | $20.00 | $59.2K | 42.7K | 127 |
Where Is Palantir Technologies Standing Right Now?
- With a volume of 37,705,621, the price of PLTR is down -2.58% at $8.12.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 87 days.
What The Experts Say On Palantir Technologies:
- Piper Sandler has decided to maintain their Overweight rating on Palantir Technologies, which currently sits at a price target of $16.
- Deutsche Bank has decided to maintain their Hold rating on Palantir Technologies, which currently sits at a price target of $11.
- RBC Capital upgraded its action to Sector Perform with a price target of $12
- RBC Capital downgraded its action to Underperform with a price target of $6
- Morgan Stanley has decided to maintain their Equal-Weight rating on Palantir Technologies, which currently sits at a price target of $13.
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 {d[company_name]}, Benzinga Progives you real-time options trades alerts.
