Palantir options analysis: 2.2x call/put ratio signals bullish positioning

Palantir Technologies Inc (PLTR) options trading activity surged to 709,398 contracts by 12:40 p.m. New York time, with calls outnumbering puts at a 2.2x ratio. This bullish positioning was evident as the stock closed at $197.44, up 1.71% from its day range of $195.65–$204.44. Over the past year, PLTR shares have climbed 15.94%, while the 3-month increase stands at 49.33%.

Implied volatility rose by 0.87 percentage points to 50.37%. The 90/110 skew, which measures the premium of downside puts over upside calls, fell by 0.31 percentage points to 1.03. This indicates that downside protection became relatively more affordable, aligning with the higher demand for call options. The 3-month implied volatility remains elevated, suggesting option buyers are still willing to pay a premium for coverage.

However, option flow data highlights the presence of various trade types, from opening positions to closing out existing trades or contributing to spreads, rather than a definitive stance.