Today’s flow activity for PLTR options showed two large call sweeps targeting the $160 strike with a far-dated expiration of June 17, 2027. The long-dated expiry gives these contracts nearly two years until maturity. The trades were executed at $48.30 per contract, with a combined premium outlay of roughly $3.3 million ($1.4M + $1.9M).
At the time of these trades, the total reported volume stood at 678 contracts. Against an open interest of 1,045, this produces a V/OI ratio of about 65%. Both trades hit the ask side, indicating passive price taking buying behavior. At the time of trade, spot prices hovered around $157. Given the expiry and relative strike, these trades are classified as long-term, out-of-the-money call options.
Volume and Open Interest Data
The PLTR $160 calls expiring June 17, 2027 saw a major spike in activity on September 8th with 3,977 contracts trading hands. Compared to an open interest of just 1,045, this produces a V/OI ratio of nearly 380%, a clear sign of aggressive new positioning rather than closing trades.
In the days prior, volume was minimal, with only 64 contracts on 9/5 and 7 contracts on 9/4. These relative figures highlight how unusual the surge was on 9/8. Open interest only declined slightly (-40) from the previous trading session of the preceding Friday. The contract closed at $47.72 with implied volatility at 54.89%, reflecting steady demand. Overall, this unusual spike points to significant speculation on PLTR option’s long-dated calls.
More Notable Options Trades Observed
PLTR options activity saw another trade which stood out. Specifically, the trade consisted of an options sweep in the $130 strike calls expiring October 17, 2025. The block of 426 contracts traded at $30.10 per contract, representing a premium outlay of about $1.3 million.
The trade hit the ask, signaling passive buying interest with PLTR trading near $157.20 at the time at the time of trade. Daily volume registered 429 contracts against an open interest of 3,048. This produces a modest V/OI ratio of around 14%, not a complete outlier compared to existing exposure. With just over a month until expiration and relatively low strike, the trade’s profile classifies as a short-term in-the-money call option.
What’s Happening with PLTR
Palantir Technologies (PLTR) made headlines last week following several notable developments, including the expansion of its partnership with Lear Corporation and its showcase at the AIPCon 8 event in San Francisco. Despite solid fundamentals and positive analyst ratings, PLTR’s share price has experienced a sharp pullback from its recent all-time highs. While not specifically targeting PLTR, the drawdown reflected a broader market correction and some profit-taking post energetic AI-fueled rallies.
PLTR stock closed at an all-time high of ~$186 on August 12th, but ended last week around $153—a drop of over 17% from those highs. The correction comes as investors digest Palantir’s elevated valuation metrics and shifting growth expectations. Though, sentiment around its AI leadership and government contracts remains strong heading into the fall.
About PLTR
Palantir Technologies is a leading software company that develops advanced data integration and analytics platforms designed to help organizations make data-driven decisions. Its core products—Gotham, used primarily by government and defense agencies, and Foundry, tailored for commercial enterprises—allow users to aggregate vast datasets, identify patterns, and generate actionable insights.
More recently, Palantir launched its Artificial Intelligence Platform (AIP), which enables companies to deploy AI and large language models securely across their operations. With deep expertise in both government and commercial sectors, Palantir plays a critical role in transforming how data is used for strategic decision-making across industries.
Analyst Ratings
| Firm | Rating/Grade | Last Update |
|---|---|---|
| CFRA | ★★★★☆ (Positive) | 09/07/2025 |
| Market Edge | Long | 05/08/2025 |
| Argus | Hold | 08/06/2025 |
| Morningstar | ★★☆☆☆ (Bearish) | 08/05/2025 |
| LSEG | Underperform / Hold | 09/05/2025 |
| Schwab Equity Ratings | C (Neutral) | 09/08/2025 |
The analyst ratings for Palantir (PLTR) show a mixed outlook across firms. CFRA most recently rated the stock 4 stars (out of 5), signaling a positive stance. Market Edge upgraded its view from Neutral to Long, showing a bullish bias.
Meanwhile, Argus remains cautious with a Hold rating, while Morningstar is more bearish with just 2 stars. LSEG places PLTR at Underperform/Hold, leaning negative, and Schwab Equity Ratings assigns a C, which suggests a neutral to cautious stance. Overall, sentiment is divided, with some firms expressing confidence in PLTR’s growth potential while others advise caution or restraint.
Want to see more of these trades? Try out Cheddar Flow free for 7 days. Learn More
Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
