thetaOwl
HomeOptionsPLTRReports

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
8
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 Earnings Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

PLTR earnings 74d out; flow mixed with call buying at $141C and put hedging at $137P. Historical beat rate 100%. Near-term pinning at $135, resistance $140. Tail hedging in far OTM puts. Confidence moderate (6).

Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 17
Most important: Mixed flow and elevated put activity near money and far OTM suggests short-term uncertainty despite strong earnings history.
📊PLTR 100% beat rate last 5 quarters; earnings 74d away.
⚡Unusual call flow at $141C (vol/oi 16.3) vs put flow at $137P (12.4).
🐻Far OTM puts (200P IV 52%, 195P IV 73%) signal tail hedging.

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 32,262 (12.7% below spot)

Earnings Overview

Next earnings: 2026-08-03 (74 days)explicit

Expected moves:

  • 2026-05-22 (1d): ±$2.71 (2.0%)
  • 2026-05-29 (8d): ±$6.83 (5.0%)
  • 2026-06-05 (15d): ±$9.77 (7.1%)

IV Setup

Term structure: Near-term IV 33-40%; far OTM puts elevated (52-73%); earnings too distant for term structure impact.

Crush estimate: N/A - earnings 74 days away.

Skew: Put skew elevated in far OTM (52-73%) vs near-money (33-40%); tail hedging visible.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available from snapshot data.

Directional bias: 100% beat rate last 5 quarters suggests upside bias, but no explicit move sizes.

Key Levels

1$120.00 gamma flip
2EM guardrails: 2d $134.70/$140.12; 1w $130.59/$144.24
3Max pain pins: $134 (2026-05-22); $135 (2026-05-29); $135 (2026-06-05)

Flow Highlights

Unusual call buying in PLTR 2026-05-29 $141C (vol/oi 16.3) and $144C (vol/oi 5.6).

Bullish bets on near-term upside.

Unusual put buying in PLTR 2026-05-22 $137P (vol/oi 12.4) and $138P (vol/oi 7.0).

Bearish hedging near the money.

Far OTM put activity: PLTR 2026-06-18 $200P (vol/oi 3.7) and $195P (vol/oi 3.0) with elevated IV.

Tail risk hedging or speculative downside bets.

Strategies

Neutral Iron Condor
Sell 2026-05-29 $130.00/$128.00 put wing and $140.00/$145.00 call wing
Credit: $1.50-$1.83
Max loss: $3.17
Max gain: $1.83
BE: 128.17 / 141.83
Trigger: Exit if spot breaches $128 or $144.
Captures high IV and pinning; mixed flow reduces directional risk.
Outperforms: Sell $130/$128 put and $140/$145 call spreads, exploiting elevated near-term IV.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar
Sell 2026-05-29 $140.00 call / buy 2026-07-17 $140.00 call
Debit: $6.08-$7.43
Max loss: $7.43
Max gain: Variable
BE: Path-dependent
Trigger: Close if spot falls below $134.
Term structure play: sell high near-term IV, buy longer-dated at lower IV.
Outperforms: Sell May $140C, buy Jul $140C to profit from time decay while keeping upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Distant earnings reduces event risk; near-term gamma pinning at $135 may cap moves.
!Net negative premium (-$16.5M) indicates put pressure; could weigh on spot.
!Gamma flip at $120 provides support if breached.

What to Watch

?Price action around $135 max pain and $140 resistance.
?Open interest changes in $141C and $137P for sentiment shifts.
?VIX at 16.76; watch for vol expansion as earnings nears.
How to Use These Reports
This earnings reflects the market close on May 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.