Sold My Palantir Long Calls

Yesterday I reported that I was stepping up my game with Palantir (PLTR). I bought 10 contracts of the PLTR 1/17/25 $70 Calls for a premium of $4.95. This position cost me $4950. Just a few minutes ago the stock was up about $2.50 and I saw a great opportunity to lock in some profit and stuff my mattress a little. I placed an order to “Sell to Close” at $6.95. This gave me $2 on my premium for a $2000 profit.

12/4/24 – Buy to Open 10 PLTR 1/17/25 $70.00 C @ $4.95

12/5/24 – Sell to Close 10 PLTR 1/17/25 $70.00 C @ $6.95 

 Profit +$2000

This was a fantastic one day trade. My one day Return on Investment (ROI) is 40.4%.

Clearly with this trade being a 10 contract position it is a little big for a Grasshopper. However, a Grasshopper could have done the same trade with 1 or 2 contracts. It would have been the same $40.4%.

This is turning out to be a great week.

 

Successful trading,

Steve

The Options Coach