PLTR hit an all-time high of $64.90 today
Palantir Technologies Inc (NYSE:PLTR) stock is up 6.4% at $62.94 at last glance, and earlier hit a fresh record high of $64.90, after news that the software name is shifting from the New York Stock Exchange (NYSE) to the Nasdaq-100 Index (NDX). The shares also got a boost earlier this week after the company renewed its partnership with Rio Tinto to strengthen artificial intelligence (AI) operations.
PLTR has been shooting higher this month, up 51.6% since the start of November. Longer term, the 40-day moving average has helped guide the shares higher since June, with PLTR now sporting an impressive 266.9% year-to-date lead.
Options traders are targeting Palantir stock after the news. So far, 437,000 calls and 335,000 calls have crossed the tape, which is triple the options volume typically seen at this point. The November 63 call is the most popular, with new position being sold to open there.
Now looks like a good time to weigh in on PLTR with options, too. The stock's Schaeffer's Volatility Index (SVI) of 52% ranks in the 19th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. Plus, the equity tends to outperform these expectations, per its Schaeffer's Volatility Scorecard (SVS) of 80 out of 100.