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PLTR

Palantir Technologies Inc.Close $135.26EOD only

Max Pain

$133.00

Next expiry May 22, 2026

Expected Move

±$5.53

4.1% from close

Price Gap

-2.26

Distance to max pain

IV Rank

Low premium

P/C OI

1.00

Balanced positioning

Consensus

7.0/10

Bullish tilt

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects PLTR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

PLTR Directional Report

Analysis based on market close May 15, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from May 15, 2026. A newer directional report is available for May 19, 2026.

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Outlook

Bullish bias driven by strong dealer GEX/flow alignment and gamma pinning near $135, but high IV caps upside; range-bound with upward drift

Confidence:

9 / 10

Base 5; +2 GEX/flow aligned; +1 gamma positive (pinning); +1 spot 0.7% from MP; +0.5 VIX 18

Supports: Bullish flow, gamma pinning at $135, spot near support $124-130, low VIX
Conflicts: High IV suggests market fears, resistance at $141

📌Gamma pinning near $135 supports range

🛡️Dealer gamma at $120 provides floor

⚠️High vol suggests caution on upside

📈Spot at EM guardrail support $127

Regime Classification

Vol Regime

High

IV elevated above VIX (18.4), indicating high implied vol relative to realized

Gamma Regime

Pinning

Positive gamma auction with flip at ~$120; GEX +$8.6M pinning near $135

Flow Regime

Bullish

Bullish net premium flow, call-heavy OI at strikes 135-140

Spot vs Max Pain

Spot ~$134, within 1% of max pain $135; strong pinning

Thesis duration: Multi-week — Range-bound with structural gamma support and bullish flow; 2-week range 124-144

Price Range Forecast

Next 1 week

$126.94$141.04

Range $126.94-$141.04; upside likely due to flow, resistance at $141

Next 2 weeks

$124.29$143.69

Range $124.29-$143.69; structural gamma floor, potential breakout above $141

Key Levels

Max pain pins: $135 (2026-05-15); $133 (2026-05-22); $135 (2026-05-29)

EM guardrails: 1w $126.94/$141.04

Support: $130.00 · $125.00 · $124.29

Resistance: $135.00 · $140.00 · $143.69

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 31,439 (10.4% below spot)

Structural: Max pain $135; 1w EM guardrails $126.94/$141.04; support $124.29, resistance $143.69; gamma flip ~$120

Dealer Positioning (GEX/DEX)

GEX: $+8.6M

DEX: +92.4M shares

Gamma flip: ~$120 (Approx — based on put OI concentration of 31,439 (10.4% below spot))

NTM gamma: GEX +$8.6M, DEX +92.4M shares; gamma flip ~$120 (put OI concentration)

IV Analysis

IV vs VIX: Rich vs VIX (18.4); high IV suggests elevated tail risk or event premium; caution for buyers

Term structure: Contango across weekly expiries; kinks near OPEX and earnings (if any); front-month elevated

Skew: Put skew priced into downside strikes; sell puts at $120 (below flip) to capture premium with low tail risk

Flow Analysis

Net premium: Net premium $21.5M positive, P/C vol 0.46 call-heavy, OI ratio 0.94 neutral.

Directional prints: 71.9 call 200 OTM 2026-06-05 — Vol/OI 8.8, IV 72%. Likely opening bought for bullish lottery. Could be closing if short, preferred read: bought. 45.6 call 136 OTM 2026-05-22 — Vol/OI 5.6, IV 46%. OTM call bought, bullish directional bet. Preferred read: bought.

Unusual: 296.1 put 185 ITM 2026-05-15 — Vol/OI 5.7, IV 296%. Deep ITM put exp today with extreme IV. Likely closing of short put or hedge. Prefer read: bought (cover). 54 put 117 OTM 2026-05-22 — Vol/OI 6.8, IV 54%. OTM put bought despite bullish flow. Could be hedge or bearish bet. Prefer read: bought (hedge).

Risks & Catalysts

!Earnings event or macro shock

!Broad market selloff (SPY -1.2%)

!Gamma flip below $120 triggers dealer hedging

!Break above $144 resistance invalidates range

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-06-05 $135.00/$144.00 call spread Why now: High IV makes long calls expensive; vertical spread reduces outlay and limits risk.	Max loss is debit paid; upside capped at short strike.
Put credit spread	Moderate-Strong	Sell 2026-06-05 $127.00/$123.00 put spread Why now: Elevated IV supports credit sale; 125 put high OI suggests support.	Max loss if stock below 125; credit buffer limits downside.
Cash-secured put	Moderate	Sell 2026-06-05 $125.00 cash-secured put Why now: High IV and put OI at 125 make attractive premium with defined buy target.	Assignment risk below 125; requires cash reserve.

Top Plays

Bull Call Spread

Buy 2026-06-05 $135.00/$144.00 call spread

Buy 135/144 call spread to profit from moderate upside while capping loss.

Why this play: Best aligns with bullish bias and high IV; reduces cost and risk.

Debit: $2.84-$3.47

Max loss: $3.47

BE: $138.47

Mgmt: Exit near 144 or before earnings; stop if below 130.

Bullish traders seeking defined risk in high IV.

Put Credit Spread

Sell 2026-06-05 $127.00/$123.00 put spread

Sell 127/123 put spread to collect premium with downside protection.

Why this play: Leverages elevated IV and support at 125; limited risk.

Credit: $1.02-$1.24

Max loss: $2.76

BE: $125.76

Mgmt: Buy back if below 130; manage near expiry.

Income-focused traders expecting range-bound bullish drift.

Cash-Secured Put

Sell 2026-06-05 $125.00 cash-secured put

Sell 125 put to collect premium and potentially buy stock at discount.

Why this play: Good premium but higher capital and downside risk.

Credit: $2.22-$2.71

Max loss: $122.29

BE: $122.29

Mgmt: Monitor support; roll if breached; hold to expiry.

Traders willing to hold shares and accept assignment risk.

Watchlist Triggers

Entry Triggers

IFPLTR holds above 130 with bullish momentum → Buy 2026-06-05 $135.00/$144.00 call spread at $2.84-$3.47

IFPLTR tests 130 support and bounces → Sell 2026-06-05 $127.00/$123.00 put spread for $1.02-$1.24 credit

IFPLTR declines to near 125 → Sell 2026-06-05 $125.00 cash-secured put for $2.22-$2.71 premium

Exit Triggers

EXITPLTR breaks below 130 → Exit all bullish positions to limit losses

Tactical Summary

Bullish bias with high IV; prefer defined-risk spreads. Key support 130, resistance 144. Manage if SPY drops >1.2% or gamma flip at 120.

How to Use These Reports

This directional reflects the market close on May 15, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.