Home Options PLTRReports

PLTR

Palantir Technologies Inc.Close $143.34EOD only

Max Pain

$135.00

Next expiry May 29, 2026

Expected Move

±$3.30

2.3% from close

Price Gap

-8.34

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.98

Balanced positioning

Consensus

7.5/10

Neutral tilt

Published snapshot: May 28, 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 28, 2026 close

PLTR Flow Report

Analysis based on market close April 8, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 8, 2026. A newer flow report is available for May 26, 2026.

View latest report

Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.2% from MP

Watch next session: Put activity and premium accumulation at $145–$150 (open interest / block prints); Volume into 2026-04-10 expiry: large closes or rolls at $144–$147 strikes

Flow Summary

Net premium: -$412.9M bearish

P/C volume ratio: 0.70 — call-dominant by volume, but not extreme

P/C OI ratio: 1.05 — put OI slightly greater than call OI, indicating heavier put positioning

Flow is mixed-to-bearish: intraday volume skews toward calls (P/C vol 0.70) but large net premium inflows into puts (net -$412.9M) and concentrated put premium at 140–150 strikes indicate institutional accumulation of downside protection or directional put exposure. Dealers are net short gamma (GEX -$34.1M), which amplifies intraday moves and makes the market more susceptible to downside acceleration around the $145–$150 area where OI and GEX pinning concentrate.

Notable Prints

PLTR260618P00320000 PUT $320.00 exp 2026-06-18

Vol: 12,000

OI: 700

Vol/OI: 17.1x

IV: 71.1%

Notional: ~$207M (12,000 * $172.70 * 100)

Intent: Large institutional protective / portfolio hedge or tail-insurance (deep-OTM/long-dated put accumulation)

Dual read: Bought puts as tail hedge (bearish/insurance) OR sold as part of a complex structured trade financed by the dealer (less likely given IV and vol/OI)

Read-through: Size and concentration imply a material hedging bet — institutions buying long-dated tail protection. This is non-linear downside insurance that increases downside convexity demand even if it won't influence near-term pinning.

PLTR260410C00146000 CALL $146.00 exp 2026-04-10

Vol: 10,889

OI: 1,876

Vol/OI: 5.8x

IV: 59.9%

Notional: ~$7.85M (10,889 * $0.72 * 100)

Intent: Short-dated call selling (overwrites) or covered call buying depending on size; could be part of roll/close activity into 4/10

Dual read: Aggressive buyer of calls (bullish) OR seller/writer (neutral to bearish if covered by equity). Given net premium and put concentration, more likely overwrite/market-maker facilitated flow.

Read-through: High activity at $146 into the 4/10 expiry is consistent with heavy positioning and rolling around near-term max pain; watch for subsequent OI build or shrink to disambiguate direction.

PLTR260410P00146000 PUT $146.00 exp 2026-04-10

Vol: 9,174

OI: 1,624

Vol/OI: 5.6x

IV: 56.6%

Notional: ~$5.55M (9,174 * $6.05 * 100)

Intent: Protective puts or aggressive directional put buying into 4/10 expiry

Dual read: Bought puts (bearish protection) OR sold as part of spreads/collar (hedged/neutral). Given large net premium into puts, likely fresh put buying.

Read-through: Paired high-volume puts and calls at $146 suggest active hedging/rolls into the 4/10 expiry; but the strong put notional indicates real downside protection demand.

PLTR260410P00144000 PUT $144.00 exp 2026-04-10

Vol: 8,853

OI: 1,720

Vol/OI: 5.1x

IV: 58.9%

Notional: ~$3.99M (8,853 * $4.50 * 100)

Intent: Short-dated protective puts or speculative put buys centered near current spot

Dual read: Direct put buying (bearish/protective) OR part of a delta-hedged structured trade (dealer facilitation).

Read-through: Concentration at $144 and heavy volume into 4/10 underscores near-term downside hedging around current spot — reinforces bearish short-term skew.

PLTR260417C00144000 CALL $144.00 exp 2026-04-17

Vol: 2,986

OI: 192

Vol/OI: 15.6x

IV: 53.2%

Notional: ~$0.98M (2,986 * $3.30 * 100)

Intent: Speculative short-dated call buying or dealer facilitation for spreads into 4/17

Dual read: Fresh bullish bets (calls bought) OR dealer-facilitated plays that are paired with put flow (structure).

Read-through: Moderate notional and large vol/OI signal a short-term directional test higher, but not enough to offset sizable put premium accumulation.

Institutional Positioning

Call additions: Some call activity concentrated at $150–$160 (large OI walls: $150 OI=25,515; $155 OI=21,586; $160 OI=21,343) — looks more like structure/short-call inventory than fresh aggressive bullish delta.

Put additions: Significant put premium and flows around $130–$150 (notably $140/$144/$145/$146 shows heavy short-dated put volume and premium; top premium flow lines show large net put spend at $140/$145/$146/$150), indicating institutions are adding downside protection and/or directional put exposure concentrated near spot.

GEX/DEX consistency: Yes — negative Total GEX ($-34.1M) with DEX +83.4M shares fits the pattern: dealers short gamma and equity demand on the other side, making downside moves more pronounced; flow and GEX are aligned with a bearish tilt.

OI clusters: $150 call cluster (25,515 OI) and $155 (34,725 / 21,586 OI entries) create a call ceiling in the $150–$160 zone; put clusters at $130 (18,316 OI) and $140 (13,798 OI) create support/put-floor interest nearer $130–$140 but open interest distribution concentrates pinning around $147–$150 per near-term GEX.

Hedging evidence: Clear evidence of large-scale hedging: concentrated short-dated puts at $144–$146 into 4/10 and 4/17 expiries, plus long-dated tail puts (6/18 $320 puts) consistent with institutional portfolio insurance. Some call activity likely represents covered call/structured trades rather than pure bullish delta.

Max pain context: Max pain sits at $147 for 4/10 and $145 for 4/17 while spot ($140.76) is below MP; MP trend is falling. Dealer GEX pin concentrations at $150 (+$7.8M) and $147 (+$2.0M) create pressure toward those pins, but net premium into puts signals sellers of protection are being paid — tug-of-war between pinning forces and put accumulation.

Signal vs Noise

~PLTR260618P00320000 PUT $320.00 — large long-dated tail put flow likely institutional insurance (portfolio-level hedge), not a near-term directional call on downside price action.

~Heavy 4/10 activity at multiple strikes ($144–$147) looks like expiry rolls and short-dated hedging rather than pure new directional positions — expect many trades to be rolls/coverage into the short expiry.

~Call-heavy OI at $150–$160 likely represents large structural sold-call/covered-call positions (dealer inventory) and can appear as bullish flow in volume but is often market-maker facilitation rather than directional conviction.

~Some high vol/low OI prints (e.g., $144 call 4/17 with OI 192) may be single-session spikes—treat them as exploratory or retail-driven unless followed by multi-session OI build.

Key Conclusions

🐻Net premium is strongly negative (-$412.9M) with concentrated put premium at $140–$150, signaling institutional downside protection or directional put accumulation.

⚠️Dealers are net short gamma (GEX -$34.1M); expect larger intraday moves and faster downside acceleration if puts trigger deltas.

📌Near-term pin/resistance cluster: $147–$150 (GEX pins + max pain). These levels are the focal point for expiry flows and where dealer hedging may create selling pressure.

🛡️Large long-dated $320 puts indicate material tail-hedging by institutions — not a near-term price driver but increases convexity demand on downside moves.

👀Watch 4/10 expiry flows at $144–$147: sustained OI build or large closes will resolve whether this is hedging/rolls or fresh directional positioning.

How to Use These Reports

This flow reflects the market close on April 8, 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.