Bulls Bombard Palantir Stock Despite Post-Earnings Breakdown

Calls have almost doubled puts during the last two weeks

Deputy Editor
Mar 3, 2022 at 1:11 PM
facebook twitter linkedin


When we last covered Palantir Technologies Inc (NYSE:PLTR) in mid-February, the company was limping out of the earnings confessional, sending its stock back below a former floor at the $12 level and ultimately toward a record low of $9.74 on Feb. 24. Though the shares briefly popped back above this area earlier in the week, the rebound was short lived, with PLTR last seen down 4.6% at $11.50. 
  

pltr march 3

Despite the post-earnings pullback and recent lows, Palantir stock has been blasted by bulls in the options pits. In fact, the stock just landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of names that have attracted the most weekly options volume in the last two weeks. During this time period, 2,725,900 calls and 1,531,680 puts have been exchanged. The most popular contract during this time was the weekly 2/25 11-strike call, followed by the weekly 3/4 12-strike call. 

mao char march 3

Meanwhile, short sellers have been piling on. Short interest rose 29.2% in the last two reporting periods and now makes up 7.4% of the stock's available float, or a little over two days' worth of pent-up buying power. 

 

 




 
Special Offers from Schaeffer's Trading Partners