Hedge $PLTR... but WHY?!
Updated
PLTR 5/24 Hedge Trade
PLTR reported earnings pre-market on 5/7. After exceeding expectations, PLTR has been range bound. An option trader most likely a hedge fund or some kind of firm created a significant wall due to purchasing too many contracts valuing over 106.7K. This may seem like a low amount especially for options but for PLTR this is too much. I will be looking to play the hedge (bet against) the original trade and grab ITM Puts for 5/24. Only if we lose momentum top the upside
PLTR reported earnings pre-market on 5/7. After exceeding expectations, PLTR has been range bound. An option trader most likely a hedge fund or some kind of firm created a significant wall due to purchasing too many contracts valuing over 106.7K. This may seem like a low amount especially for options but for PLTR this is too much. I will be looking to play the hedge (bet against) the original trade and grab ITM Puts for 5/24. Only if we lose momentum top the upsideNote
Get out on gap up, add near lows for the flush
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