The shares just dropped below long-term support
Palantir Technologies Inc (NASDAQ:PLTR) stock has remained a staple on Schaeffer's Senior Quantitative Analyst Rocky White's list of names seeing the most attention from options traders over the past 10 days, making the list every week so far in 2026.
Two weeks off its Feb. 3 post-earnings pop of 6.9%, PLTR is still popular amongst options traders. In the last 10 days, the stock has seen more than 4.9 million calls and 5.1 million puts exchanged. The 2/6 160-strike call saw the most activity during this time frame, followed by the weekly 2/13 150-strike call. Interestingly, PLTR is only one of two stocks on the list where puts outweigh calls.
PLTR has been pulling back since late December, down 26.3% year to date. Just last week, the shares dropped below the 320-day moving average for the first time since May 2023. Support could be emerging at the $130 level, however, with the equity last seen down 0.3% at $130.97.
Options are looking affordably priced as well. The stock's Schaeffer's Volatility Index (SVI) of 54% ranks in the 18th percentile of its annual range, meaning options traders are pricing in low volatility expectations.