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PLTR

Palantir Technologies Inc.Close $128.06EOD only

Max Pain

$140.00

Next expiry Apr 17, 2026

Expected Move

±$8.12

6.3% from close

Price Gap

+11.94

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.04

Balanced positioning

Consensus

5.5/10

Consensus signal

Published snapshot: Apr 10, 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 10, 2026 close

PLTR Flow Report

Analysis based on market close April 10, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 12.3% from MP

Watch next session: Follow any repeat large prints at the $130C (4/17 & 4/24) chain — repeat heavy call buying would shift bias; New meaningful put premium or block buys at $120-$125 (support gamma flip area) that increase negative net premium further

Flow Summary

Net premium: -$118.8M bearish

P/C volume ratio: 0.63 — call-dominant volume today, but skewed by concentrated call prints

P/C OI ratio: 1.04 — OI roughly balanced (slight put tilt by OI), suggests existing positioning holds moderate put pressure

Surface call flow (heavy notional at nearby strikes like $130 and $125) dominates volume, but the overall net premium is strongly negative (-$118.8M) implying larger put premium dollars elsewhere. Dealers are net negative gamma (Total GEX -$40.3M) while DEX shows sizeable delta exposure (+88.5M shares), which creates a mixed microstructure: short-gamma dealer behavior amplifies intraday moves while institutional flows show both aggressive call activity and larger put premium commitments — net effect leans bearish because premium dollars favor puts.

Notable Prints

PLTR 2026-04-17 $130.00 Call

Vol: 51,081

OI: 5,883

Vol/OI: 8.7x

IV: 56.8%

Notional: ~$16.2M

Intent: Large directional call buying (fresh speculative or structured leg for call-heavy spread)

Dual read: Aggressive buyer (bullish) OR dealer/issuer leg for a call-heavy structured sale (neutral); but high vol/OI ratio and immediate notional favor fresh buying.

Read-through: Significant short-term bullish bets concentrated ~2% OTM; increases short-dated call risk to dealers and accentuates gamma exposure near $130.

PLTR 2026-04-17 $125.00 Call

Vol: 10,185

OI: 1,030

Vol/OI: 9.9x

IV: 59.3%

Notional: ~$6.0M

Intent: ITM call purchases—either bullish directional buying or roll/upgrade from lower strikes

Dual read: Could be fresh long-call accumulation (bullish) or closing/legging of existing structures (neutral).

Read-through: Adds to the short-dated call load around $125-$130; if sustained, dealers need to hedge more stock delta on rallies, increasing short-gamma sensitivity.

PLTR 2026-04-24 $125.00 Call

Vol: 4,062

OI: 177

Vol/OI: 22.9x

IV: 59.4%

Notional: ~$3.1M

Intent: Tactical call buying into the next weekly cycle (directional/speculative)

Dual read: Likely fresh buys (bullish) but high vol/OI with small OI base could also be transient flow from a single desk (noise).

Read-through: Reinforces short-dated call demand; multiple expirations showing call prints suggests coordinated bullish option activity across near-term tenors.

PLTR 2026-05-22 $120.00 Put

Vol: 1,600

OI: 323

Vol/OI: 5.0x

IV: 65.2%

Notional: ~$11.6M

Intent: Protective put buying or longer-dated hedging

Dual read: Could be institutional protective hedges (bearish view or stock-owning hedge) or purchase for verticals/collars (neutral-to-hedged).

Read-through: Meaningful longer-dated put premium clustered near the dealer gamma flip (~$120) — evidence of larger-scale downside protection that underwrites the net negative premium.

PLTR 2026-04-24 $80.00 Put

Vol: 1,751

OI: 132

Vol/OI: 13.3x

IV: 107.8%

Notional: ~$19.3M

Intent: Deep OTM speculative put buying or part of multi-leg protection (cheap tail exposure)

Dual read: Either cheap tail protection (institutional hedge) or directional crash insurance sold/structured (issuer activity).

Read-through: High IV and large vol/OI signal seekers of extreme downside protection; informs risk managers that tail hedging demand exists despite strong call volume.

Institutional Positioning

Call additions: Concentrated call additions at $125-$135 (notably $130 4/17 vol=51,081; $125 4/17 vol=10,185) and additional call premium at $135-$140 (GEX concentration +$1.3M at $135 and +$2.1M at $140).

Put additions: Significant put premium dollars at $120 (net premium for $120 shows -$10,459,333) and cluster OI at $130 and $120; longer-dated $120 puts (5/22) indicate protective hedging.

GEX/DEX consistency: Yes — negative Total GEX (-$40.3M) with large DEX (+88.5M shares) aligns with mixed flow: institutions adding option exposure while dealers are short gamma and carrying delta exposure that amplifies moves.

OI clusters: Major call OI wall concentrated at $140 (22,231 OI) and heavy call OI at $150/$155 beyond immediate range; put OI clusters at $130 (17,499 OI), $120 (20,845 total put OI in aggregate datasets), and $110 (16,523 OI) create a put floor below spot.

Hedging evidence: Clear evidence of protective put buying (notably $120 5/22 and large put OI at $120-$130), and some collar-like behavior implied where calls are bought while longer-dated puts are accumulated; not a wholesale collar sweep but selective hedges are present.

Max pain context: Max pain is above spot short-term ($146 today, then drifting down to $140-$145), but spot is below MP — positioning shows calls clustered toward MP region which could create pin/magnet dynamics if dealers hedge short call exposure.

Signal vs Noise

~Large concentrated short-dated call prints (e.g., $130C 4/17) may be directional buys or dealer-structured trades; single-day call-heavy volume can overstate bullish conviction if part of spreads.

~High volume into very deep OTM puts (e.g., $80P 4/24) likely reflects cheap tail insurance or structured selling, not an imminent directional thesis for spot.

~Some premium anomalies in 'Top Premium Flow Strikes' (huge values at $350/$330/$320) look like data aggregates or institutional multi-leg positions outside near-term dynamics — treat as low signal for front-month flow.

~Expiration/roll activity: elevated activity at adjacent expirations for same strikes (125/130 across 4/17, 4/24, 5/01) suggests rolling/laddering behavior rather than pure one-shot directional bets.

Key Conclusions

⚖️Net premium strongly negative (-$118.8M) while volume is call-skewed (P/C vol 0.63) — premium dollars point bearish even if contract count favors calls.

📌Short-dated call concentration near $125-$130 (especially the 4/17 $130C print) increases dealer short-gamma risks around $130 and sharpens intraday move sensitivity.

🛡️Meaningful put premium and OI clusters at $120-$130 (and put purchase at 5/22 $120) indicate institutional hedging — the $120 gamma flip is a key support guardrail.

🧭Key resistance levels to respect: $135.00 (near-term pin/gex) and $140.00 (call OI wall & pin magnet). These are within +10% of spot and likely sell zones for dealers.

🧨Dealers are net short gamma (Total GEX -$40.3M) — expect amplified moves; any sustained leg higher could draw heavy delta-hedging flows but overall premium structure favors downside protection.

🔍Watch repeat prints at $130/$125 across expirations — if call buying recurs without offsetting put premium, bias can flip to bullish quickly due to dealer gamma hedging.

Read the Flow analysis for PLTR for 2026-04-10. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.