According to CNBC, Palantir Technologies rose about 3.5% Friday to trade above $180 after gaining more than 65% since its recent low on June 25, and one contributor said the stock's momentum and options pricing make downside protection look unusually cheap. The article said Palantir's 14-day relative strength index was 69.50 at midday Friday, near the 70 level traders view as overbought, while PutDex, an index tracking the normalized price of a 30-day Palantir put option one standard deviation below the stock price, was in the bottom decile of its 52-week range. It said the Sept. 25 $170 put could be bought for $5.90, or $590 per contract, with profit below $164.10 at expiration, while a put spread using the $170 and $155 strikes would cost about $3.60, or $360 per contract, and cap maximum profit at $11.40.