Cash In on Palantir's Fall From Grace

After a giant run to the north,defence contractor and AI stock Palantir (PLTR) finally began retracing into support levels earlier this week, before its next run to the upside.Though the chart is quite bullish, the new political administration announced defense budget cuts that traders assumed would affect the stock. Traders are both shorting the stock and are positioned to take profits into support near $100 and below. That’s the perfect setup for a long put butterfly trade on PLTR.PLTR’s relative resistan ...