This 'Meme' Stock Is Back for Trading

Here's how to play Palantir after it released earnings.
Stocks quotes in this article: PLTR, TWTR

Palantir (PLTR) was flying high during the "meme" period of 2020 or so when several names won hardcore fans through posts on Redditt and Twitter (TWTR) and the like.

The stock is now through earnings after it released a mixed report, and while the S&P 500 has rallied, this stock has pulled itself off the mat.

With the move higher, options are shockingly cheap for how wild PLTR can move. There is real potential, if the market keeps running for a break out higher in PLTR. Looking at the Sept. 16, $10 calls, the cost of calls is only about $0.60.

I think there is real potential for these to go to $1.00. Like many meme-type stocks, if the stock does rally, I expect option demand to actually increase.

Trade: Buy to open one PLTR Sept. 16 $10 call for about $0.61.

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At the time of publication, Sebastian had no position in Palantir.

TAGS: Investing | Options | Stocks

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