Options Market Statistics: Palantir Stock Jumps 17% as AI Demand Drives Revenue Beat, Options Pop
News Highlights
$NVIDIA(NVDA.US$ shares rose by 4.79%, closing at $693.32. Its options trading volume is 1.89 million. Call contracts account for 66.3% of the whole trading volume. The most traded calls are contracts of $700 strike price that expire on February 9th. The total volume reaches 94,471 with an open interest of 11,833. The most traded puts are contracts of a $650 strike price that expires on February 9th; the volume is 28,130 contracts with an open interest of 4,528.
Nvidia's shares scaled a new peak on Monday after $Goldman Sachs(GS.US$ raised its price target for the high-flying chipmaker's stock in anticipation of a major boost to its earnings from the artificial intelligence (AI) boom.
The searing growth in the stock price - already up about 39% so far this year - has made it more expensive to own relative to its peers. Nvidia's shares trade at 31.4 times the company's forward earnings estimate, compared with the industry average of 22.9.
Still, Goldman Sachs analyst Toshiya Hari sees more room for growth.
We believe Nvidia will remain as the industry gold standard for the foreseeable future, given its robust hardware and software offerings and, importantly, the pace at which it continues to innovate," Hari said.
$Tesla(TSLA.US$ shares fell by 3.65%, closing at $181.06. Its options trading volume is 2.49 million. Call contracts account for 53.6% of the whole trading volume. The most traded calls are contracts of $185 strike price that expire on February 9th. The total volume reaches 147,273 with an open interest of 10,008. The most traded puts are contracts of a $175 strike price that expires on February 9th; the volume is 120,371 contracts with an open interest of 12,701.
$Palantir(PLTR.US$ shares fell by 1.76%, closing at $16.72. Its options trading volume is 0.92 million. Call contracts account for 62.1% of the whole trading volume. The most traded calls are contracts of $17 strike price that expire on February 9th. The total volume reaches 43,618 with an open interest of 16,864. The most traded puts are contracts of a $16 strike price that expires on February 16th; the volume is 42,741 contracts with an open interest of 21,619.
Palantir shares surged more than 19% in after-hours trading on Monday after the company reported fourth-quarter earnings that beat analysts' expectations for revenue. Full-year guidance for 2024 came roughly in line with Wall Street's estimates.
In a letter to shareholders, Palantir CEO Alex Karp said the company's expansion and growth "have never been greater," especially as demand for large language models in the U.S. "continues to be unrelenting." Palantir has been rolling out its Artificial Intelligence Platform, or AIP, and Karp said the company carried out nearly 600 pilots with the technology in 2023, up from fewer than 100 in 2022.
Our results reflect both the strength of our software and the surging demand that we are seeing across industries and sectors for artificial intelligence platforms," Karp wrote.
Unusual Stock Options Activity
Some notable put activity is being seen in $NVIDIA(NVDA.US$, which is primarily being driven by activity on the 9-FEB-2024 put. Volume on this contract is 17,752 versus open interest of 150.
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Daily Active Index & Sector ETF Options
Source: Barchart, Unusual Whales, CNBC
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SiaoAlarm :
SpyderCall : PLTR is showing multiple consecutive quarters of growth in revenue, profit, and income, with margins improving over the same period. Financial statements are looking great even though the earnings were in line.
But after a big jump up after earnings, then there should be some profit taking very soon.
Mr Pistachio SpyderCall : but stock price depressed
SpyderCall Mr Pistachio : It has been kept down in the past since the IPO. But recently, that downtrend has ended, and this ticker has been climbing strongly.
The big jump after earnings confirms the uptrend. I should say that after this huge gap up, I would expect some profit taking very soon. Maybe even tomorrow