We are seeing strong options activity on Palantir Technologies, Inc., which is a darling of the Reddit crowd:

On CNBC’s “Options Action,” Mike Khouw said about 610,000 contracts traded in Palantir Technologies Inc on Wednesday and calls outpaced puts by about three to one. The most active calls were the 26 strike calls that expire at the end of this week.

See the full video here.

Regardless of what the options market is saying, my view on Palantir is that it’s a terrible, money losing company. It has lost money every single year of its 18 years in business, and its current burn rate is $100,000,000 a month. Other major tech companies like Amazon and Google made it to profitability much sooner, so I’m not inclined to give Palantir a break. This is one you want to avoid.

For more on Wallstreetbets, check out these posts:

• Palantir Is Losing $100 Million a Month With No End in Sight
• Wallstreetbets’ Next Stop: Asia
• Congress Is Investigating Wallstreetbets Over GameStop, But the Law’s On Their Side

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Photo: “PandoMonthly – April 2012 – Sarah Lacy Interviews Peter Thiel” by thekenyeung is licensed under CC BY-NC-ND 2.0