PLTR Whale Covers $23.6M Short, Flips Long Seconds Later

A whale that had just opened a $23.6 million short position on PLTR covered it and went long one second later, after the token's weekly gain approached 50%, according to TradingBeats (formerly Hyperinsight). PLTR rose from a low of $119.71 to $179.42, up 49.9%, and was trading around $172.39. Open interest in PLTR contracts jumped 278.7% over 24 hours, while OI value grew from roughly $10.88 million to $41.05 million, up about 277%. The whale's new long uses 10x isolated margin on 92,400 PLTR, worth around $15.92 million at an average entry of $175.25, and represents nearly 38.8% of total open contracts. The position is down about $264,000, a return of -16.3%, with liquidation at $165.99. Trading volume reached around $93.75 million. The whale has historically chased momentum across assets, often reversing key positions before large drawdowns, with cumulative profits of about $17.7 million.