PLTR Bull Trap in progress
@Lionel8383：
The bull trap pattern is starting for form, trapping liquidity once again for those who decided to go in long after Palantir reported their Q1 2023 earnings. Similar to a quarter ago after Palantir stock made a high of $10.31 on Feb 16, 2023, the stock began to sell down. As the stock gapped up from close of $7.74 after to earnings to $9.22 at the start of trade on May 9, 2023, there is some inefficiency in the price action, where the price might make an attempt to close the gap. Current short interest is 7.22%, while forward PE is around 46 times forward earnings estimate. If options is your thing, might look at buying put at strike $9 expiring on June 16, 2023. Alternately if you already own 100 shares of PLTR, might consider selling covered call at strike of $10, collecting premium of $60 per contract. $Palantir Technologies Inc.(PLTR)$ @TigerStars
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