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PLTR

Palantir Technologies Inc.Close $145.89EOD only
Max Pain
$140.00
Next expiry Apr 24, 2026
Expected Move
±$6.62
4.5% from close
Price Gap
-5.89
Distance to max pain
IV Rank
5
Low premium
P/C OI
1.07
Balanced positioning
Consensus
5.5/10
Range bias
Published snapshot: Apr 20, 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
Apr 20, 2026 close
PLTR Earnings Report
Analysis based on market close April 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Mixed-but-tilted-bullish ahead of 2026-05-04: concentrated puts and heavy call buying suggest gamma pinning near the max-pain area ~$140–142; monitor IV reprice into event.

Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 20
Most important: Gamma pin concentrated around ~$140–142 driven by large call prints and put exposure, increasing spot sensitivity near that level.
📌Pinning risk centered near $140–142 from concentrated puts plus big call prints.
⚖️Historical beats but elevated IV — realized moves often muted vs priced premium.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$120.00 — Approx — based on put OI concentration of 19,301 (17.8% below spot)

Earnings Overview

Next earnings: 2026-05-04 (13 days)explicit

Expected moves:

  • 2026-04-24 (3d): ±$6.22 (4.3%)
  • 2026-05-01 (10d): ±$10.45 (7.2%)
  • 2026-05-08 (17d): ±$18.02 (12.3%)

IV Setup

Term structure: Front-month IV elevated (~50–57%) vs back months; term-wide skew shows elevated short-dated demand.

Crush estimate: Moderate-to-large front-month IV drop expected post-event (~20–35%).

Skew: Put skew steep below spot; call demand lifting upper strikes near 148–157.

Historical Context

Beat rate: 100% (4/4 quarters)

Avg move vs expected: Historical beat rate 100% (4/4); realized moves often smaller than priced expectations.

Directional bias: Slight bullish tilt into earnings given consistent beats and call-led flow.

Key Levels

1$120.00 gamma flip
2EM guardrails: 2d $139.75/$152.20; 1w $135.52/$156.42
3Max pain pins: $142 (2026-04-24); $140 (2026-05-01); $140 (2026-05-08)

Flow Highlights

Very large April 24 call print 157.5 (vol/oi 4.6, vol 15,882) and heavy May 1 calls at 148–149.

Aggressive call buying concentrates gamma and increases pinning pressure toward the $140–142 max-pain band.

Put OI concentration ~19,301 (~17.8% below spot) with negative net premium ~-83.5M.

Dealer short put exposure amplifies risk of nonlinear moves if spot breaches the put base below the pin band.

Strategies

OTM Long Strangle (May 8 142P/150C)
Buy 2026-05-08 $142.00 put + buy $150.00 call
Debit: $12.92-$15.79
Max loss: $15.79
Max gain: Unlimited
BE: 126.21 / 165.79
Trigger: Enter near lower end of entry range; trim or close after IV crush or once one leg profits; cut if spot pins tightly at $140–142 into expiry.
Balances convexity vs cost into high IV and gamma pin at $140–142.
Outperforms: Cheapens vega exposure while capturing large moves away from the pin; good if earnings surprise magnitude exceeds priced move.
Underperforms: Insufficient realized move reduces long-strangle edge.
Bull Call Spread (May 15 150/160)
Buy 2026-05-15 $150.00/$160.00 call spread
Debit: $3.08-$3.77
Max loss: $3.77
Max gain: $6.23
BE: $153.77
Trigger: Buy within entry band, take profits into strength pre-earnings or roll out if momentum continues; invalidate if stock stays ≤142.
Leans into slight bullish flow and large call prints while capping cost in high IV.
Outperforms: Asymmetric upside play that benefits from continuation above 150 with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.
Bear Put Spread (May 15 142/130)
Buy 2026-05-15 $142.00/$130.00 put spread
Debit: $3.69-$4.51
Max loss: $4.51
Max gain: $7.49
BE: $137.49
Trigger: Use as hedge; enter near range, widen or close if pin holds at $140–142 or after post-earnings IV drop. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
Protects vs downside tail if pin breaks and nonlinearity hits.
Outperforms: Limited-cost downside hedge that buys lower-tail convexity while selling some premium.
Underperforms: Trade above resistance weakens downside thesis.

Risk Assessment

!High IV environment → sharp reprices possible
!Gamma pin near $140–142 raises spot sensitivity around max pain
!Negative net premium and concentrated OI can create nonlinear downside if pin fails
!Post-earnings crush may still leave elevated dispersion

What to Watch

?Spot action vs max pain $140–142 into expiry
?Front-month IV moves and bid/ask widening
?Follow-through on Apr24 157.5C and May1 148–149C prints
?Put floor behavior below the pin band
How to Use These Reports
This earnings reflects the market close on April 21, 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.