Palantir options flow: call spreads cluster near 52-week high

Palantir Technologies Inc (PLTR) is trading at $205.80 as of October 9, 2023, just below its 52-week high of $207.52. In today's data, there are 833,298 contracts, with 518,647 call options and 314,651 put options. The call/put ratio is approximately 1.65x, indicating a preference for calls over puts.

The three prominent spreads are clustered around the October 16, 2026 expiry, with one week out and strike prices ranging from $205 to $215. These spreads signify a capped cost and payoff, suggesting that investors expect Palantir's stock to reach or surpass the $207.52 high, albeit not by a significant margin. However, the data does not reveal the identities of the buyers and sellers, so the direction remains unconfirmed. Some of this activity may be due to spread sellers or rollover activities.

Yesterday, the trading volume was 709,398 at 12:40 p.m., with a call/put ratio of 2.2x, showing a higher preference for calls. The current ratio of 1.65x today is lower due to an increase in put options. The focus has shifted from the $200 call and the $205/$210 calls to the $205–$215 range. If Palantir's stock closes above $207.52, it would become a new 52-week high.

This information provides insights into market positioning but does not guarantee outcomes. This report was generated with the assistance of AI and reviewed by an editor.