I have purchased April $85 puts on one of the hottest stocks in the world, Palantir (PLTR).
I usually have pattern- or chart-based reasons for such trades, but in this case, it is two non-chart reasons. One, there was exceptionally positive news over the weekend about PLTR, which should have vaulted it higher. Instead, it is selling off pretty hard. Second, and more important, my impression is that the fans of PLTR are some of the biggest turds on Earth, and I’d rather be on the other side.
Because this works both directions (in case you didn’t hear, Cramer says PLTR is going to $100 before 2024 is over, just because. Whereas in 2022………..)
