Trade Ideas
UOA PRO Update PLTR 8-11
19,00018December 140 puts bought in mostly six prints for 7.40 to 7.90 above open interest of 4,822 contracts. Stock 175.00-176.63.
Status Update
Ticker: PLTR
Stock: 175.00
New UOA: 19,000 18December 140 puts bought in mostly six prints for 7.40 to 7.90 above open interest of 4,822 contracts. Stock 175.00-176.63.
Check site for other recent activity. We will cover through Friday as customary.
UOA PRO New Trade Idea PLTR 7-24
Ticker: PLTR
Type: Bullish Call Buying
Stock: 123.59
Status Update
Ticker: PLTR
Stock: 123.59
Expiration Date: 07AUG
UOA: 3,500 31July 120 calls mostly bought in three orders for 5.00 to 6.10 above open interest of 717 contracts. EPS (estimated* 08/03 after close). Stock 122.42-124.22.
PLTR $123.04 Last.
Modestly sized week out ITM call buy appears after the stock has had a rough week but is off the lows. Downtrends are in place here but with EPS looming, and the possibility for news, willing to add as a rebound bull much like the TQQQ.
ALL THINGS CONSIDERED…the market should probably rollover into more downside price discovery but somehow 3 of the 4 major index ETFs we regularly cover are up on the day and the Qs are well off the lows. Not uncommon to rally after breaking a support line but on what? Does it really matter anyway? Reasons are cited but really its about pushing prices where we believe they should be – to paraphrase. Given the shenanigangs, who know’s what news is next? With those thoughts in mind, we’re prepping again for the bullside despite the technicals spurred on by the possibility that timely news will turn the tide here as it often does in bull markets.
Trigger: $125.31, today’s current high.
Strategy 1: Consider the PLTR 31July 126.00 calls for $3.05 projected at trigger level today.
Strategy 2: Consider the PLTR 07Aug. 127.00-142.00 call spread for $4.55 projected at trigger level today. Uncappable. (EPS-Inclusive)
Targets: 126.61, 127.91 (20 SMA currently), 128.30, 129.73, 130.60, 131.62 (50 SMA currently)