PLTR calls outflank puts, but options selling and spread activity have been rampant lately
Palantir Technologies Inc (NASDAQ:PLTR) stock is a part of the tech charge today, last seen up 4.1% to trade at $180.13. AI-linked firms across the board are getting a halo lift from Advanced Micro Devices' (AMD) prolific deal with OpenAI.
Options traders are cheering the news on multiple fronts. Palantir stock made its usual appearance on Senior Quantitative Analyst Rocky White's list of equities that attracted the highest options volume in the past two weeks. Per our records, Palantir has found itself on this list every week since early June. In the last 10 sessions, the shares saw 4,766,396 calls and 2,913,881 puts, with the March 2026 100-strike put the top trade during this timeframe. Spready activity around November 185 calls and puts is also popular.
PLTR is coming off back-to-back weekly losses, and at the end of the summer were testing an uptrend channel. Now, the shares are forming a double top pattern, but are still up 136% in 2025.
Analysts remain skeptical; 17 of the 21 brokerages covering the stock maintain "hold" or worse ratings, and the 12-month consensus price target of $153.48 is a 14% discount to its current perch. Should Palantir turn in an upbeat earnings report on Nov. 3, a shift in analyst sentiment could help the stock take off even more.
Now looks like a great time to weigh in with options. This is per the equity's Schaeffer's Volatility Index (SVI) of 55% that sits in the 18th percentile of annual readings, indicating options traders are pricing in low volatility expectations. Plus, PLTR's Schaeffer's Volatility Scorecard (SVS) of 82 out of 100 suggests it tended to outperform volatility expectations over the past year.