Trader marks the company's growth

The Palantir share is on the way to the fourth loss in a row

Tech Name’s shares Palantir Technologies Inc. (NYSE: PLTR) were last seen decreased 3.6% to $ 21.66. Safety has fallen on the charts since hitting an all-time high of $ 45.00 on Jan. 27 and is on its way to its fourth straight loss with three days of pressure against the 20-day moving average . Even so, PLTR has managed to hit 126.7% in the past six months and options traders have paid great attention to equity.

PLTR chart April 19th

Despite the recent negative price action, call traders have speculated on much upside for Palantir stocks. In fact, PLTR is on Schaeffer’s senior quantitative analyst Rocky White’s list of stocks with the highest weekly option volume in the past two weeks. According to this data, 1,098,950 calls and 223,452 puts were exchanged over this two-week period, which is enough for third place on White’s list. The most popular contract during the period was the call on April 25, followed by the call from 24 on the same series.

Most active options April 19th

Today, security sees roughly the average intraday volume from both sides of the aisle. So far, 200,000 calls and 66,000 puts have changed hands. The weekly 4/23 call with 22 strikes is the most popular opening new positions, followed by the call with 23 strikes from the same series. This again shows that by the time these options expire at the end of the week, options traders are speculating about more upside for the stock.

Short positions are currently accumulating, with short rates increasing 27.2% over the most recent reporting period and the 57.74 million short positions sold accounting for 4.3% of the stock’s free float. At the average trading pace of Palantir stock, it would take about a day to buy back these bearish bets.

Now might be a good time to consider the next step of PLTR with options. The security is currently recording premiums at attractive prices according to the Schaeffer Volatility Index (SVI) of 62%, which is in the extremely low 4th percentile of its annual range.


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