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PLTR

Palantir Technologies Inc.Close $137.41EOD only

Max Pain

$134.00

Next expiry May 22, 2026

Expected Move

±$2.71

2.0% from close

Price Gap

-3.41

Distance to max pain

IV Rank

Low premium

P/C OI

0.97

Balanced positioning

Consensus

6.5/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

PLTR Directional Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

PLTR above max pain with strong dealer gamma support but high vol and mixed flow suggest range-bound $130-$143. Neutral-bullish bias with theta-favorable setup.

Confidence:

7.5 / 10

Base 7.5; +1 GEX positive; +0.5 spot above MP; +1 VIX 17. Positive gamma and pinning support.

Supports: Positive dealer gamma $+377M, spot above max pain $135, EM support $130.80.
Conflicts: High vol, mixed flow, resistance at $143.

🛡️Gamma pinning near $135 limits downside.

⚠️High vol; option premiums elevated.

📊Spot testing $140 resistance; breakout targets $143.

Regime Classification

Vol Regime

High

High vol; IV elevated vs VIX 17.

Gamma Regime

Pinning

Positive GEX $+377M; pinning dominant; flip at ~$120.

Flow Regime

Mixed

Mixed; put OI 30.2K below spot.

Spot vs Max Pain

Above

Spot above MP $135; near resistance.

Thesis duration: Multi-week — Range-bound with dealer positioning; structural horizon.

Price Range Forecast

Next 1 week

$130.80$142.97

Key resistance $143; support $130.80.

Next 2 weeks

$127.73$146.03

Gamma flip risk below $120.

Key Levels

Max pain pins: $135 (2026-05-22); $135 (2026-05-29); $135 (2026-06-05)

EM guardrails: 1w $130.80/$142.97

Support: $135.00 · $130.00 · $127.73

Resistance: $140.00 · $143.00 · $146.03

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 30,188 (12.3% below spot)

Structural: 1w EM $130.80/$142.97; support $135, $130, $127.73; resistance $140, $143, $146.03; gamma flip ~$120.

Dealer Positioning (GEX/DEX)

GEX: $+377.3M

DEX: +85.8M shares

Gamma flip: ~$120 (Approx — based on put OI concentration of 30,188 (12.3% below spot))

NTM gamma: GEX +$377M, DEX +85.8M shares; positive gamma pinning near MP $135; flip ~$120.

IV Analysis

IV vs VIX: IV rich vs VIX 17; elevated for range-bound.

Term structure: Contango expected due to high vol.

Skew: Put skew elevated; call sales attractive.

Flow Analysis

Net premium: Net negative put premium ($-670k) with P/C vol ratio 0.53 (more calls), bearish flow from put buys.

Directional prints: 43.6 put 126 OTM 2026-05-29 — Vol/OI 9.0, extreme OTM put buying, bearish. 37.8 call 138 OTM 2026-05-29 — Vol/OI 6.0, ATM call buying, bullish. 38.9 put 132 OTM 2026-05-29 — Vol/OI 5.9, OTM put buying, bearish.

Unusual: 43.6 put 126 OTM 2026-05-29 — Vol/OI 9.0, extreme ratio, likely opened puts. 80.5 put 105 OTM 2026-05-29 — Vol/OI 7.8, deep OTM put, high IV, speculative. 18.1 put 138 ITM 2026-05-22 — Vol/OI 4.3, today expiry, low IV suggests pinning, likely sold.

Risks & Catalysts

!Gamma flip below $120 accelerates sell-off.

!Break above $143 triggers short squeeze.

!Earnings or macro data events (e.g., CPI) may disrupt gamma pinning.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Iron condor	Moderate	Sell 2026-06-12 $135.00/$130.00 put wing and $140.00/$145.00 call wing Why now: High vol and mixed flow; range-bound structure allows theta decay with limited tail risk.	Sharp break past wings causes losses; gamma risk at edges.
Put credit spread	Moderate-Strong	Sell 2026-06-12 $135.00/$130.00 put spread Why now: Dealer gamma support near 130 and range-bound view; premium collection with defined risk.	Sell-off below 120 accelerates losses; defined risk cap.

Top Plays

Range-Bound Iron Condor

Sell 2026-06-12 $135.00/$130.00 put wing and $140.00/$145.00 call wing

Sells OTM put and call wings to capture theta decay within $130-$140.

Why this play: Higher max gain, lower risk per contract, and neutral-bullish setup aligns with range-bound expectation.

Credit: $3.16-$3.87

Max loss: $1.13

BE: 131.13 / 143.87

Mgmt: Exit at 50% max gain or if price breaches strikes.

Traders expecting price to stay within $130-$140.

Bullish Put Credit Spread

Sell 2026-06-12 $135.00/$130.00 put spread

Sells OTM put spread to collect premium with defined risk.

Why this play: Suitable for bullish tilt but limited upside; ranks lower due to directional risk.

Credit: $1.68-$2.05

Max loss: $2.95

BE: $132.95

Mgmt: Exit at 50% profit or if underlying drops below $135.

Traders with mild bullish outlook.

Watchlist Triggers

Entry Triggers

IFPLTR stays within $130-$140 → Sell IC-1: put spread $135/$130 and call spread $140/$145 for net credit $3.16-$3.87.

IFPLTR pulls back to $135 support → Sell PCS-1: $135/$130 put spread for credit $1.68-$2.05.

Exit Triggers

EXITPLTR breaks below $130 or above $145 → Close IC-1 at market.

EXITPLTR drops below $135 → Close PCS-1 to limit loss.

Tactical Summary

Range-bound setup: IC-1 preferred for theta decay; enter if price holds $130-$140. PCS-1 backup if pullback to $135. Exit on breakouts.

How to Use These Reports

This directional reflects the market close on May 22, 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.