Palantir closed at $168.82, edging down 0.22%.
The session featured a dominant $10.90 million long-dated call purchase at the $190 strike, alongside a neutral volatility backdrop and bullish call/put volume ratio of 1.87. The large trade reflected conviction in continued upside through 2027, while options pricing appeared modestly inexpensive relative to realized movement.
>>Don’t Let Fees Quietly Eat Into Your Returns — Get up to SGD 200 in Options Rewards!
Options Indicators
Palantir’s implied volatility is 55.86%, and with an IV percentile of 37.05%, current option pricing sits in a neutral volatility regime rather than at an extreme. At the same time, the IV/HV ratio of 0.88 suggests implied volatility is running slightly below historical volatility, indicating options are not especially rich and may even look modestly inexpensive relative to the stock’s realized movement. The Call/Put volume ratio is 1.87.
Large Trades
A call purchase worth $10.90 million was the standout large trade in PLTR, consisting of 10,000 contracts of the February 19, 2027 $190.00 call. With the stock reference price at $168.82, this strike sits out of the money, making it a clearly bullish directional bet that requires further upside over time to realize full value. The long-dated tenor suggests the buyer was seeking extended exposure to a continued advance in PLTR rather than positioning for a near-term catalyst alone, and the scale of the premium indicates meaningful conviction in upside potential.
Overall, the large-trade flow points to a distinctly bullish institutional tone in PLTR. The fact that the session’s notable activity was concentrated in a sizable out-of-the-money long call indicates traders were willing to spend premium for leveraged upside participation, which is typically consistent with expectations for continued appreciation rather than hedging against downside. Taken together, the bulk-order figures suggest confidence in PLTR’s medium- to long-term upside trajectory.
Strategy Reference
For traders seeking income with lower assignment probability, selling the February 19, 2027 $120.00 put could align with the bullish institutional tone while using the long-dated tenor to capture premium. Alternatively, a bull call spread—buying the $190 call and selling the $240 call of the same expiry—may reduce capital outlay and margin exposure relative to holding the long call outright.