Benzinga | Oct 6, 2021 02:21PM EDT

Tracking Palantir Technologies's Smart Money Trades

Someone with a lot of money to spend (and possibly insider knowledge) has taken an unusually bearish stance on Palantir Technologies (NYSE:PLTR).

And retail traders should know.

Looking at options activity for Palantir Technologies (NYSE:PLTR) we detected 76 unusual trades. If we consider the specifics of each trade, it is accurate to state that 46.05% of the investors opened trades with bullish expectations and 53.95% with bearish. From the overall spotted trades, 23 are puts, for a total amount of $1,790,504 and 53, calls, for a total amount of $5,289,336.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that the smart money is targeting a price range from $17.5 to $47.0 for Palantir Technologies in the 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 smart money trades within a strike price range from $17.5 to $47.0 in the last 30 days.

Palantir Technologies Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestPLTR CALL TRADE BEARISH 01/19/ $23.00 $897.0K 733 1.0K 24PLTR PUT SWEEP BEARISH 09/16/ $35.00 $490.8K 259 379 22PLTR CALL TRADE BEARISH 01/19/ $20.00 $210.7K 1.2K 288 24PLTR PUT TRADE BEARISH 02/18/ $21.00 $89.0K 5.6K 1.1K 22PLTR CALL SWEEP BEARISH 10/15/ $24.00 $87.4K 15.5K 20.8K 21

Where Is Palantir Technologies Standing Right Now?

* With a volume of 105,723,426, the price of PLTR is up 1.97% over the last 24 hours at $23.67.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 36 days.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.