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PLTR

Palantir Technologies Inc.Close $136.88EOD only

Max Pain

$135.00

Next expiry May 29, 2026

Expected Move

±$6.08

4.5% from close

Price Gap

-1.88

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.96

Balanced positioning

Consensus

7.5/10

Neutral tilt

Published snapshot: May 22, 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 22, 2026 close

PLTR Directional Report

Analysis based on market close May 26, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bullish bias with pinning at $136 max pain. High gamma and bullish flow support upside drift towards $140-$141.5 in near term. Key risk: gamma flip at $120 on downside.

Confidence:

9 / 10

Base 5, +2 GEX/flow aligned, +1 GEX positive (pinning), +1 spot near MP, +1 low VIX.

Supports: Bullish flow, high gamma, pinning, low VIX.
Conflicts: High vol could cap upside; gamma flip at $120.

📈Bullish flow: Net premium positive, P/C ratio favoring calls.

📍Gamma pinning: $136 max pain attracts spot.

⚠️Gamma flip risk: Put OI concentration at $120.

📊Low VIX: Favorable for bullish premium capture.

Regime Classification

Vol Regime

High

IV elevated, well above normal range due to event/earnings proximity.

Gamma Regime

Pinning

Positive gamma pinning near $136 max pain; dealer hedging supports mean-reversion.

Flow Regime

Bullish

Net bullish premium, puts cheap relative to calls, aggressive call buying.

Spot vs Max Pain

Spot at max pain; pinning likely into expiry.

Thesis duration: Event-specific — Near-term expiries (May 29, Jun 5, Jun 12) with high gamma and flow alignment.

Price Range Forecast

Next 2 days

$131.62$141.58

Max pain pinning at $136; gamma supports range.

Next 1 week

$128.03$145.18

Broader range, upside bias to $145.

Next 2 weeks

$125.60$147.60

Structural upside with resistance at $147.6.

Key Levels

Max pain pins: $136 (2026-05-29); $135 (2026-06-05); $136 (2026-06-12)

EM guardrails: 2d $131.62/$141.58; 1w $128.03/$145.18

Support: $136.00 · $130.00 · $125.60

Resistance: $140.00 · $147.60 · $150.00

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 30,223 (12.2% below spot)

Structural: Max pain pins: $136 (May 29), $135 (Jun 5), $136 (Jun 12). EM guardrails: 2d $131.62/$141.58; 1w $128.03/$145.18. Support: $136, $130, $125.6. Resistance: $140, $147.6, $150. Gamma flip ~$120.

Dealer Positioning (GEX/DEX)

GEX: $+29.2M

DEX: +83.3M shares

Gamma flip: ~$120 (Approx — based on put OI concentration of 30,223 (12.2% below spot))

NTM gamma: GEX +$29.2M, DEX +83.3M shares. Gamma flip at ~$120 based on put OI concentration.

IV Analysis

IV vs VIX: PLTR IV elevated relative to VIX 17, indicating event premium (earnings/expiry).

Term structure: Term structure shows contango into Jun 12 expiry, with front-end elevated due to event.

Skew: Put skew flat; call skew elevated on bullish flow. No obvious vol arbitrage.

Flow Analysis

Net premium: Net +$9.45M, call vol heavy (0.47 P/C), OI neutral (1.01).

Directional prints: 44.7 call 137 OTM 2026-05-29 — Vol/OI 5.3; 9175 vol vs 1732 OI. Likely aggressive buying. Bullish. 45.1 call 136 ITM 2026-05-29 — Vol/OI 4.5; 7793 vol vs 1743 OI. Strong call buying. Bullish. 46 call 147 OTM 2026-05-29 — Vol/OI 3.8; 9503 vol vs 2491 OI. Speculative call buying. Bullish.

Unusual: 100 call 240 OTM 2026-06-05 — Vol/OI 7.2; far OTM call, premium $0.01. Lottery buying. Unusual. 43.2 put 137 ITM 2026-05-29 — Vol/OI 4.2; ITM put high vol. Possible hedge or reversal signal. 68.6 put 195 ITM 2026-06-18 — Vol/OI 3.5; deep ITM put, $57.65. Likely closing/hedging. Unusual.

Risks & Catalysts

!Gamma flip at $120 if spot breaks down.

!High vol could lead to sharp reversals.

!Event-driven volatility post-expiry.

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bull call spread	Moderate	Buy 2026-06-12 $139.00/$145.00 call spread Why now: Bullish flow and gamma support upside; max pain at $136.	Profit capped if rally exceeds short strike; time decay if flat.
Put credit spread	Moderate-Strong	Sell 2026-06-12 $129.00/$124.00 put spread Why now: High put OI at $130 and bullish flow provide strong floor.	If spot breaks below $130, max loss limited but significant.
Bullish risk reversal	Moderate	Buy 2026-06-12 $141.00 call / sell 2026-06-12 $129.00 put Why now: Call flow aggressive at $137; volatility supports premium collection.	Unlimited upside capped by call; downside risk if spot falls below short put strike.

Top Plays

Bull Call Spread

Buy 2026-06-12 $139.00/$145.00 call spread

Captures upside drift to $140-$145 with limited downside.

Why this play: Best fit for bullish thesis with gamma support and max pain pin; defined risk.

Debit: $1.86-$2.28

Max loss: $2.28

BE: $141.28

Mgmt: Exit if spot closes below $136 or if target reached.

Traders seeking defined-risk bullish exposure.

Bullish Risk Reversal

Buy 2026-06-12 $141.00 call / sell 2026-06-12 $129.00 put

Combines long call and short put for aggressive bullish bet.

Why this play: Leverages call flow and vol; unlimited upside potential.

Debit: $1.12-$1.37

Max loss: $129.00

BE: $129.00

Mgmt: Monitor gamma flip at $120; roll if spot drops near $136.

Aggressive traders comfortable with high risk and reward.

Put Credit Spread

Sell 2026-06-12 $129.00/$124.00 put spread

Collects premium with bullish support at $129.

Why this play: Income strategy with high put OI providing floor; less upside capture.

Credit: $1.00-$1.23

Max loss: $3.77

BE: $127.77

Mgmt: Close early if volatility spikes or spot breaks below $136.

Income-focused traders expecting sideways to bullish.

Watchlist Triggers

Entry Triggers

IFIF spot holds above $136 for 30 min after open → Enter Bull Call Spread (Buy 2026-06-12 $139/$145 call spread) at limit 2.10

IFIF spot stays above $136 with bullish momentum → Enter Bullish Risk Reversal (Buy 2026-06-12 $141 call / sell $129 put) at limit 1.25

Adjustment Triggers

ADJIF spot drops to $136 intraday → Reduce risk reversal by closing short put leg; keep long call

Exit Triggers

EXITIF spot closes below $136 → Close all bullish positions (bull call spread and risk reversal)

EXITIF spot reaches $140 → Take 50% profit on Bull Call Spread; trail stop on remainder

Tactical Summary

Bullish bias with max pain $136. Favor bull call spread for defined risk; risk reversal for aggressive. Key support $136, resistance $140. Invalidate if close below $136.

How to Use These Reports

This directional reflects the market close on May 26, 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.