OPTIONS FLOW$PLTRPalantir Technologies Inc.Open ticker analysis →
A $2.69M sweep hit $PLTR Sep 25 $182.50 calls on Friday, the kind of size that gets noticed on Palantir Technologies's options tape. The buyer paid up to get filled, on a strike already 3.8% in the money.
What happened
The trade printed in the final half hour, around 4:00 p.m. ET on Friday, September 25, with $PLTR trading near $189.64. 3,747 contracts went through at $7.17 apiece, or $717 per contract, for $2.69M in total premium.
It came in as a sweep, split across several exchanges to fill fast. Traders sweep when getting the position matters more than shaving a few cents off the price.
There were already 7,016 contracts open at this strike, so the trade could be adding to a position or unwinding one. The next open-interest update will settle which.
Why it matters
Buying calls is the straightforward bullish trade. The buyer needs $PLTR above about $189.67 by Sep 25 to come out ahead at expiration.
With -1 days until Sep 25, this is a bet on the next few sessions, not the next few months.
The numbers
| Contract | PLTR Sep 25 $182.50 Call |
|---|---|
| Expiration | Sep 25, 2026 (-1 days) |
| Execution | Sweep |
| Side | Buy side (at or near the ask) |
| Contracts | 3,747 |
| Price | $7.17 ($717 per contract) |
| Total premium | $2.69M |
| Stock at the trade | $189.64 |
| Strike vs. stock | 3.8% in the money |
| Breakeven at expiration | $189.67 |
| Open interest before | 7,016 |
Three ways this could play out
Bullish continuation
If $PLTR pushes through $199.12, the move works for this buyer and the flow starts to look like early conviction rather than noise.
Bearish rejection
If $PLTR slips under $180.16, the pressure lands on this buyer, and $189.67 becomes the level that decides whether the trade is saved.
Neutral stabilization
If $PLTR chops between $180.16 and $199.12 into Sep 25, time decay does the work. That slowly bleeds this buyer, who loses a little value every day the stock goes nowhere.
What to watch next
- $189.67: breakeven for this trade at expiration.
- $182.50 strike: whether $PLTR moves toward it or away from it.
- Open interest at the $182.50 call in the next session. A jump confirms a new position; a drop points to a close.
- Repeat flow in the Sep 25 expiration. More size at nearby strikes would show this was not a one-off.
- September 25, 2026: expiration, -1 days out.
