PLTR Stock: Unusual Options Activity Flags Bearish Positioning as Palantir Slips 2.72%

March 13, 2026

By TrendSpider Editor

PLTR Stock: Unusual Options Activity Flags Bearish Positioning as Palantir Slips 2.72%

Palantir Technologies Inc. is drawing attention in the options market today, with three unusual contracts totaling $1,162,814.80 in premium activity flagged as traders position around the $149.32 current price. The largest single contract is a $1,012,500 put positioned right at the money, signaling that at least some market participants are bracing for further downside. With PLTR trading well off its 52-week high of $207.52 but comfortably above its 52-week low of $66.12, today's options flow arrives at a technically significant juncture.

Key Drivers of the PLTR Stock Move

Main Catalyst: Three unusual options contracts were flagged today totaling $1,162,814.80 in combined premium, with notable put-side activity dominating the flow. A $150 put expiring March 20, 2026 accounted for $1,012,500 of that total at a size of 2,250 contracts, representing 16% of open interest and landing directly at the money given today's price of $149.32.
Bull Case: The $143 put expiring March 27, 2026 carried an open interest percentage of 325%, which is the highest OI% reading among the flagged contracts. Extremely elevated OI% can indicate hedging activity rather than directional bearish bets, suggesting some traders may be protecting long positions rather than outright shorting the stock.
Bear Case: Two of the three flagged contracts are puts, and the dominant contract by premium is an at-the-money put with a near-term expiry of March 20, 2026. The stock is already down 2.72% on the session, and the size and proximity of the $150 put to the current price of $149.32 suggests the options market is pricing in a real possibility of continued weakness heading into next week.

The forward setup for PLTR is worth watching closely given the concentration of put activity in the near-term expiry window. Both the March 20 and March 27 expiries are within the next two weeks, meaning this positioning will resolve quickly. The $143 strike on the March 27 put represents a roughly 4.2% decline from current levels, and its open interest percentage of 325% makes it the most statistically unusual contract in today's batch. While Palantir's longer-term story around AI-driven government and commercial data analytics remains intact given its wide 52-week range of $66.12 to $207.52, the near-term options flow leans cautious. Traders should monitor whether the stock can hold the $149 to $150 zone, which is clearly a contested level based on today's activity.

PLTR Unusual Options Activity

Contract 1: PUT | Strike: $150 | Expiry: March 20, 2026 | Volume: 2,250 | Open Interest %: 16% | Classification: ATM
Contract 2: CALL | Strike: $152.50 | Expiry: March 13, 2026 | Volume: 1,000 | Open Interest %: 19% | Classification: OTM
Contract 3: PUT | Strike: $143 | Expiry: March 27, 2026 | Volume: 348 | Open Interest %: 325% | Classification: OTM

Total unusual contracts flagged: 3. Total premium across all contracts: $1,162,814.80. Put contracts account for two of the three flagged trades, with the $150 ATM put representing the overwhelming majority of premium at $1,012,500.

PLTR Seasonality

Mid-March has historically been a transitional period for high-beta technology names as institutional portfolios rebalance heading into the end of Q1. For a stock like PLTR that has shown a wide annual range of $66.12 to $207.52, late-quarter volatility in the options market is consistent with seasonal positioning patterns.

PLTR Relative Performance

PLTR is down 2.72% on the session at $149.32, underperforming on a day when investors appear to be rotating away from higher-multiple technology names. The stock sits roughly 28% below its 52-week high of $207.52, though it remains more than double its 52-week low of $66.12, reflecting the significant repricing the stock has experienced since peak levels while still holding substantial long-term gains for investors who purchased earlier in the range.