PLTR
Palantir Technologies Inc.Close $136.88EOD onlyThis page reflects PLTR options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
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You are viewing an older report from April 9, 2026. A newer flow report is available for May 22, 2026.
View latest reportFlow Verdict
Watch next session: Follow further prints at 4/10 expirations — especially $129/$127/$130 puts (volume and aggressive prints); Call OI activity around $150-$155 (dealer pin action / roll activity toward the call wall)
Flow Summary
Net premium: -$324.5M bearish
P/C volume ratio: 0.89 — slight call-volume edge, not extreme
P/C OI ratio: 1.03 — put OI slightly higher than call OI (balanced-to-mild put bias)
Notable Prints
Read-through: Large ITM call volume the day before expiry increases dealer negative gamma into close; combined with negative net premium, this raises short-term fragility — price can be whipsawed, but the broader premium flows favor downside protection.
Read-through: High traffic in 135 call adds to short-dated call demand but not enough premium to offset large net put premium elsewhere; increases intraday vega/gamma sensitivity near expiry.
Read-through: Concentrated activity clustered at spot (~$130) indicates intraday gamma sensitivity — pushes dealers to hedge dynamically and can amplify moves in either direction during expiration.
Read-through: Significant put pressure immediately below spot increases downside risk into expiry; aligns with negative net premium and points to protective/ directional put accumulation.
Read-through: Another concentrated short-dated put print that complements $129 and $130 put flow — increased probability of downside pin/pressure into the 4/10 expiration window.
Institutional Positioning
Call additions: Large OI concentrations at $150-$160 across expirations (multiple strikes with OI: $150: 27,882 / 23,063 / 21,504 / 16,349; $155: 34,920 & 20,711; $160: 18,621 & 14,327). These look like established call walls (likely selling/overwriting or long-dated buys concentrated at 150-160).
Put additions: Near-term put buying concentrated at $130 (17,917 OI) and heavy short-dated prints at $129/$127/$130 for 4/10 — institutions appear to be adding short-dated downside exposure or buying protection just below spot.
GEX/DEX consistency: Yes — negative total GEX (-$79.9M) with DEX +91.4M shares implies dealers are net short-gamma and long underlying exposure, consistent with the observed short-dated activity and large call OI walls.
OI clusters: Largest OI clusters: call-heavy wall at $150-$160 (creates a potential resistance/pin magnet above spot); put concentration at $120 (20,722 OI) and $130 (17,917 OI) creates defined downside floors / hedged zones. Max pain sits ~ $146 across near expirations, providing higher-level magnet above current spot.
Hedging evidence: Material evidence of short-term protective put accumulation (4/10) and existing longer-dated put floors at $100-$120 and $120 put OI concentration; limited explicit collar structures visible in the near-term chain, more one-sided put demand.
Max pain context: Max pain is ~ $146 for near expirations (4/10–4/24). Spot ($130.49) is well below MP; MP trend is flat around $146 which sits above spot and aligns with large call OI walls that could act as a magnet if upside momentum resumes.
Signal vs Noise
Key Conclusions
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