Palantir Stock Rises on U.S. Army Contract

Options volume is running at quadruple the typical intraday amount

Digital Content Manager
Oct 10, 2023 at 10:16 AM
facebook X logo linkedin


Shares of Palantir Technologies Inc (NYSE:PLTR) are up 1.5% to trade at $17.88 at last check, after the company inked a $250 million contract with the U.S. army to test and develop artificial intelligence (AI) and machine learning. 

Drilling down to today's options activity, 81,000 calls and 19,000 puts have been traded, four times the volume that is typically seen at this point. Most popular is the weekly 10/13 18.50-strike call, where new positions are opening, followed by the 18-call in the same series.

At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), PLTR's 50-day put/call volume ratio that sits in the 89th percentile of annual readings. This indicates that, while calls still outpace puts on an overall basis, the latter have been picked up at a quicker-than-usual clip.

The security is today trading at its highest level since early August, but overhead pressure remains at the $18 level. A floor at the $15 region has captured multiple pullbacks this year, including from its Aug. 18, 12-month of $20.23. In 2023, PLTR is up 174% so far.

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*