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 upside
Comment:
Get out on gap up, add near lows for the flush