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PLTR

Palantir Technologies Inc.Close $141.70EOD only

Max Pain

$142.00

Next expiry Jun 5, 2026

Expected Move

±$3.21

2.3% from close

Price Gap

+0.30

Distance to max pain

IV Rank

High premium

P/C OI

0.89

Slightly call-heavy

Consensus

9.0/10

Bullish tilt

Published snapshot: Jun 4, 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

Jun 4, 2026 close

PLTR Directional Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

Outlook

Bearish bias from negative gamma and spot below MP, but VIX support. See short-term bounce potential.

Confidence:

7 / 10

Base5 +2GEX -0.5MP +0.5VIX =7

Supports: Neg gamma, VIX>20, positive DEX
Conflicts: Spot below MP, mixed flow

📉Neg gamma amplifies downside; spot below $142 MP

📊VIX22 high vol; potential mean reversion

Regime Classification

Vol Regime

High

High from selloff QQQ-4.8%, VIX21.5

Gamma Regime

Trending

Short gamma -$3.2M, flip $120

Flow Regime

Mixed

Mixed; put buying vs +DEX

Spot vs Max Pain

Below

Spot $135.5, 4.6% below $142 MP

Thesis duration: Event-specific — Sharp selloff, support at $125, flip near

Price Range Forecast

Next 1 week

$127.83$143.23

Test $127.83 support; resist $143.23

Next 2 weeks

$125.03$146.03

Range $125-$146; flip at $120

Key Levels

Max pain pins: $142 (2026-06-05); $144 (2026-06-12); $130 (2026-06-18)

EM guardrails: 1w $127.83/$143.23

Support: $125.03 · $125.00

Resistance: $142.00 · $146.03

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 26,536 (11.5% below spot)

Structural: S $125, R $142/$143/$146

Dealer Positioning (GEX/DEX)

GEX: $-3.2M

DEX: +92.3M shares

Gamma flip: ~$120 (Approx — based on put OI concentration of 26,536 (11.5% below spot))

NTM gamma: GEX -$3.2M short, flip $120; DEX +92M

IV Analysis

IV vs VIX: IV rich vs VIX21.5, elevated

Term structure: Backwardation; near-term elevated

Skew: Put skew high; sell puts at support

Flow Analysis

Net premium: Net premium -$5.87M; calls dominate volume (P/C vol 0.76) and OI (P/C OI 0.87), while puts show concentrated buying for today's expiry.

Directional prints: 17.2 put 138 ITM 2026-06-05 — Vol 27.8k vs OI 2.1k (13.0x); likely opened bought; bearish positioning for today's expiry. 6.3 put 137 ITM 2026-06-05 — Vol 28.3k vs OI 3.8k (7.5x); likely opened bought; bearish. 5.4 put 136 ITM 2026-06-05 — Vol 16.5k vs OI 1.5k (10.8x); likely opened bought; bearish.

Unusual: 112.5 call 230 OTM 2026-06-12 — Vol 1.7k vs OI 211 (8.3x); IV 112.5%; deep OTM lottery buy; high risk speculation. 55.8 put 121 OTM 2026-06-12 — Vol 1.1k vs OI 150 (7.6x); IV 55.8%; OTM put buy; bearish tail risk. 48.8 call 138 OTM 2026-06-12 — Vol 8.2k vs OI 492 (16.6x); IV 48.8%; OTM call buy; bullish bet for next week.

Risks & Catalysts

!Macro selloff

!Gamma acceleration

!Event risk

Strategy Viability

Strategy	Edge	Best Setup	Primary Risk
Bear put spread	Moderate	Buy 2026-08-21 $140.00/$125.00 put spread Why now: Negative gamma and spot below MP suggest continued weakness; post-earnings uncertainty warrants protection.	Limited upside if stock rallies; max loss equals net debit.
Long put	Moderate-Strong	Buy 2026-08-21 $130.00 put Why now: Flow shows put buying; high implied vol offers leveraged downside if stock falls.	Time decay and vol crush if stock holds; unlimited loss if short vol? Actually long put has max loss premium.

Top Plays

Bear Put Spread

Buy 2026-08-21 $140.00/$125.00 put spread

Buy $140/$125 put spread to profit from downside while limiting loss.

Why this play: Safer bearish play with defined risk; suits negative gamma and potential bounce.

Debit: $6.59-$8.06

Max loss: $8.06

BE: $131.94

Mgmt: Exit if stock breaks above $142 invalidation.

Traders seeking capped risk with bearish conviction.

Long Put

Buy 2026-08-21 $130.00 put

Buy $130 put for high upside if stock falls sharply.

Why this play: Leveraged bearish bet; flow confirms put buying; high implied vol.

Debit: $9.59-$11.72

Max loss: $11.72

BE: $118.28

Mgmt: Set stop-loss at $142; take profits on sharp drops.

Aggressive traders comfortable with higher risk.

Watchlist Triggers

Entry Triggers

IFIF PLTR breaks below $125 support on volume → THEN buy 1 PLTR 2026-08-21 $140/$125 bear put spread at limit price $7.33 (mid of range)

IFIF PLTR breaks below $125 support with put flow acceleration → THEN buy 1 PLTR 2026-08-21 $130 put at limit price $10.66 (mid of range)

Exit Triggers

EXITIF PLTR reclaims $142 → THEN exit all bearish positions (bear put spread and long put) at market

Tactical Summary

PLTR bearish bias from negative gamma and spot below MP, but VIX support suggests short-term bounce potential. Key support $125; break below triggers bearish entries (bear put spread or long put). Invalidation at $142. Manage risk on macro selloff or gamma acceleration.

How to Use These Reports

This directional reflects the market close on June 5, 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.