It's no secret that big-data analytics firm Palantir Technologies Inc (NASDAQ:PLTR) represents one of this year's biggest success stories. At the same time, a year-to-date return of well over 300% has analysts skeptical about a sustained run. Presently, PLTR stock trades at an extremely rich valuation, leading to a split sentiment on Wall Street.

Despite the reasonable concerns, the smart money appears to generally lean toward a bullish posture. In particular, the latest read of PLTR stock's unusual options activity shows heightened activity for the $70 call expiring on Jan. 16, 2026. The total value hit $393,000, conspicuously...