Palantir closed at $189.67, down 1.52%.

A standout block trade dominated the session: a $140.00 strike put sale expiring in 2026, worth $391 thousand. The overall large-trade flow leaned bullish, with this out-of-the-money put sale far outweighing smaller bearish put buying. Institutional-sized positioning appears skewed toward premium collection and limited downside concern, suggesting traders are comfortable betting Palantir remains well above $140.00 far into the future rather than paying up for downside protection.

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Options Indicators

Palantir currently has an implied volatility of 56.60%, and with an IV percentile of 37.85%, its volatility profile sits in a neutral range rather than an extreme. That suggests current option pricing is neither especially cheap nor especially expensive relative to its own recent history, although the IV/HV ratio of 1.18 shows implied volatility is still running modestly above historical realized volatility, meaning the options market is pricing in somewhat higher forward uncertainty than what the stock has recently delivered.

The Call/Put volume ratio is 1.40.

Large Trades

A put sale worth $391 thousand stood out as the key large trade, with 1,263 contracts sold at the $140.00 strike expiring on 2026-12-18. With Palantir referenced at $189.67, this put sits out of the money, making the trade a moderately bullish stance that suggests the seller is comfortable taking in premium while betting the stock remains well above $140.00 through expiration. Strategically, this kind of trade usually reflects either confidence that downside risk is limited or a willingness to accumulate shares at a much lower effective entry level if assigned.

Overall, the bulk-order flow leans bullish on Palantir. The dominant trade was an out-of-the-money put sale far larger than the bearish put activity elsewhere, indicating that institutional-sized positioning is skewed toward premium collection and confidence in downside support rather than protection against a major drop. While there was some smaller bearish interest through put buying, it was not large enough to challenge the broader message from the block flow, so the large-trade picture points to constructive sentiment with traders appearing more comfortable betting on stability to upside than preparing for sustained weakness.

Strategy Reference

For a lower assignment probability, consider selling the $140.00 put or even the $130.00 put expiring 2026-12-18; alternatively, a bull put spread such as selling $140.00 and buying $120.00 can define risk while still collecting premium.