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PLTR

Palantir Technologies Inc.Close $119.50EOD only
Max Pain
$129.00
Next expiry Jun 26, 2026
Expected Move
±$5.95
5.0% from close
Price Gap
+9.50
Distance to max pain
IV Rank
0
Low premium
P/C OI
0.93
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 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
Jun 22, 2026 close
PLTR Directional Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Outlook

Bearish bias: negative gamma -$65.6M, high vol, spot below max pain. But positive delta +91M shares and VIX 19 provide support. Expect downside to $110 gamma flip; potential squeeze to $126 pin.

Confidence:
6.5 / 10
Base 5. +2 GEX/flow aligned (negative gamma & mixed flow favor bears). -1 spot 7.4% below MP. +0.5 VIX 19.
Supports: Negative gamma, high vol, spot below gamma flip.
Conflicts: Positive delta, mixed flow, spot above 110 support.
📉Negative GEX -$65.6M amplifies downside.
⚠️Spot 7.4% below $126 pin; squeeze risk.
📈DEX +91M shares provides support.

Regime Classification

Vol Regime
High
IV high vs VIX 19.5.
Gamma Regime
Trending
Trending: GEX -$65.6M, flip at $110.
Flow Regime
Mixed
Mixed: no clear bias, P/C balanced.
Spot vs Max Pain
Below
Spot 7.4% below $126 pin.
Thesis duration: Event-specific — Event-specific: pin and flip into 6/26 expiry.

Price Range Forecast

Next 2 days
$111.71$121.68
2d: bearish, range 111.71-121.68, resistance at top.
Next 1 week
$109.02$124.37
1w: neutral-bearish, range 109.02-124.37, support at 110.
Next 2 weeks
$106.60$126.80
2w: neutral, range 106.6-126.8, potential recovery.

Key Levels

Max pain pins: $126 (2026-06-26); $130 (2026-07-02); $133 (2026-07-10)
EM guardrails: 2d $111.71/$121.68; 1w $109.02/$124.37
Support: $110.00 · $106.60
Resistance: $126.00 · $126.80
Gamma flip: ~$110.00 — Approx — based on put OI concentration of 20,557 (5.7% below spot)
Structural: Max pain $126/130/133. Gamma flip $110. Support $110/106.6. Resistance $126/126.8. 2d guardrails 111.71-121.68; 1w 109.02-124.37.

Dealer Positioning (GEX/DEX)

GEX: $-65.6M

DEX: +91.0M shares

Gamma flip: ~$110 (Approx — based on put OI concentration of 20,557 (5.7% below spot))

NTM gamma: NTM GEX -$65.6M, DEX +91M, gamma flip $110 from put OI.

IV Analysis

IV vs VIX: IV rich vs VIX 19.5; high vol.

Term structure: Contango, kink at 6/26 expiry.

Skew: Put skew elevated; buy puts or sell call spreads.

Flow Analysis

Net premium: Net selling of $21.9M; call volume high but negative premium suggests bearish positioning.

Directional prints: 50.9 put 118 ITM 2026-06-26 — Vol/OI 6.1; elevated put buying, bearish. 51.6 call 118 OTM 2026-06-26 — Vol/OI 21.9; net selling likely bearish call writing.

Unusual: 51.2 call 121 OTM 2026-07-02 — Vol/OI 22.7; aggressive call activity but net premium favors bearish. 51.6 call 118 OTM 2026-06-26 — Vol/OI 21.9; repeated high activity, likely sold. 51.3 call 122 OTM 2026-07-02 — Vol/OI 12.9; notable but implied bearish via net selling.

Risks & Catalysts

!Rally to $126 triggers gamma squeeze.
!Positive delta limits downside.
!Event risk post-expiry.

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bear put spreadModerate
Buy 2026-07-31 $115.00/$105.00 put spread
Why now: Negative gamma, high vol, spot below max pain; bearish flow. Define risk against potential squeeze.
Upside risk if squeeze to $126; spread caps loss but also profit.
Call credit spreadModerate
Sell 2026-07-31 $129.00/$136.00 call spread
Why now: Capped upside; negative gamma and high vol favor premium selling. Bearish bias.
Short squeeze to $126 could threaten; spreads are defined risk.

Top Plays

#1
Bear put spread
Buy 2026-07-31 $115.00/$105.00 put spread
Buy $115/$105 put spread to profit from downside to $110 gamma flip.
Why this play: Direct bearish play with defined risk; benefits from negative gamma and high vol.
Debit: $3.19-$3.89
Max loss: $3.89
BE: $111.11
Mgmt: Exit if spot breaks above $126 invalidation.
Bearish traders seeking capped risk.
#2
Call credit spread
Sell 2026-07-31 $129.00/$136.00 call spread
Sell $129/$136 call spread to collect premium on limited upside.
Why this play: Capped upside, premium selling suited for bearish bias.
Credit: $1.20-$1.47
Max loss: $5.53
BE: $130.47
Mgmt: Close if spot exceeds $126 invalidation.
Moderately bearish traders wanting income.

Watchlist Triggers

Entry Triggers
IFIF spot rallies to 126 resistance and fails to break above → Enter bear put spread: buy $115/$105 put spread
IFIF spot remains below 126 and near resistance → Enter call credit spread: sell $129/$136 call spread
Exit Triggers
EXITIF spot breaks above 126 → Exit both bear put spread and call credit spread

Tactical Summary

Bearish bias with negative gamma, high vol, and gamma flip at 110. Key levels: support 110/106.6, resistance 126/126.8. Favor bear put spread for downside target, call credit spread for income. Event risk: gamma squeeze if rally breaks 126.
How to Use These Reports
This directional reflects the market close on June 23, 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.