Palantir Technologies (NYSE: PLTR) shares experienced unusual options activity on Monday. The stock price moved up to $25.13 following the option alert. One way options activity can be considered unusual is when volume is exceptionally high. The volume of options activity refers to the number of shares contracts traded for a day. Open interest describes unsettled contracts that have been traded but not closed by a counter-party. In other words, for each contract buyer, there must be a seller. A purchased contract remains open until a seller closes it, and vice versa.

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