Options traders are getting anxious on Palantir and Apple ahead of earnings

It's not just the neoclouds and hyperscalers that investors are anxious about. Options data show a surge in bearish trading in anticipation of both Palantir and Apple earnings Monday afternoon. The two stocks have been on trajectories that are distinct from the broader AI trade – with Apple, in particular, trading almost inversely to the Nasdaq 100 Index – but that's not stopping speculators from betting on a reversal in their shares after earnings. Of the 620,000 options traded on Apple by midday, 385,000 were puts, with at least 113,000 puts likely initiated by buyers, compared to just 64,000 calls bought, Cboe LiveVol data show.