PLTR
Palantir Technologies Inc.Close $132.51EOD 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 10, 2026. A newer flow report is available for May 26, 2026.
View latest reportFlow Verdict
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
Notable Prints
Read-through: Significant short-term bullish bets concentrated ~2% OTM; increases short-dated call risk to dealers and accentuates gamma exposure near $130.
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.
Read-through: Reinforces short-dated call demand; multiple expirations showing call prints suggests coordinated bullish option activity across near-term tenors.
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.
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
Key Conclusions
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