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PLTR

Palantir Technologies Inc.Close $152.17EOD only

Max Pain

$140.00

Next expiry Jun 5, 2026

Expected Move

±$6.75

4.4% from close

Price Gap

-12.17

Distance to max pain

IV Rank

High premium

P/C OI

0.90

Balanced positioning

Consensus

9.5/10

Bullish tilt

Published snapshot: Jun 2, 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

Jun 2, 2026 close

PLTR Flow Report

Analysis based on market close April 15, 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 15, 2026. A newer flow report is available for May 26, 2026.

View latest report

Flow Verdict

BiasBullish

Confirmation: Sustained call premium flow into the $140-$150 area with continued large-sized prints (including the 2026-04-17 $139 ITM block) and dealer GEX staying net long (Total GEX: $+105.1M). Continued bid-side prints at $140-$145 and call-led net premium above today's baseline (Net premium: +$31.8M) would confirm.

Invalidation: A session in which put-side net premium dominates (net premium flips negative) and put volume spikes above call volume (P/C volume ratio >> 1) or price decisively breaks below the near-term support band around $137-$135.

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.3% from MP; +0.5 VIX 18; note: massive front-week ITM call print (Vol 29,163) increases conviction in near-term call demand but is partially offset by sizable front-week protective put flow.

Watch next session: Follow-through in call prints at $140-$145 (especially 2026-04-24 and 2026-05-01 expiries); Price action vs the tight 2-day EM: $137.48 (low) failure to hold toward $140 would weaken the bullish read

Flow Summary

Net premium: +$31.8M bullish

P/C volume ratio: 0.49

P/C OI ratio: 0.98

Call demand dominates the session but is concentrated and punctuated by a very large front-week ITM call print (PLTR260417C00139000, Vol 29,163 OI 7,220) that materially shifts dealer hedging needs. Heavy call premium at $138-$144 and large OI at $140/$150 point to directional accumulation into the $140-$150 corridor; however sizable front-week put prints (notably PLTR260417P00136000 Vol 6,661 OI 1,720) indicate tactical defensive hedging that tempers outright conviction and suggests positioning is a mix of offensive upside exposure with short-term protection.

Notable Prints

PLTR260417C00139000

Vol: 29,163

OI: 7,220

Vol/OI: 4.0x

IV: 49.5%

Notional: multi-million call block

Intent: Large directional call accumulation / block buy; likely opening long calls or a dealer-facilitated block which forces delta-hedging buying of stock (strong upside intent into front-week).

Dual read: Could be dealer compression/legging of a larger structured trade, but size and immediacy favor genuine long-call demand.

Read-through: Significantly increases near-term upside pressure and amplifies dealer positive GEX gamma exposure around $140-$142, making the $140 pin magnet more powerful unless rapidly offset by put demand.

PLTR260417P00136000

Vol: 6,661

OI: 1,720

Vol/OI: 3.9x

IV: 47.7%

Notional: ~$306K

Intent: Tactical protective put buying into the front-week (defensive hedge around very near-term risk/earnings), likely opened as insurance against a short-term pullback.

Dual read: May be part of collars tied to call buys, reducing net directional exposure; but volume suggests genuine protective activity.

Read-through: Limits upside gamma on a short-term basis; demonstrates institutions are layering protection even while adding calls.

PLTR260424C00148000

Vol: 5,564

OI: 835

Vol/OI: 6.7x

IV: 48.6%

Notional: ~$1.25M

Intent: Near-term call accumulation at $148 for the 2026-04-24 expiry; likely directional bullish bets targeting the 1-week EM top (~$151.17).

Dual read: Could be financed with selling higher calls, but concentrated activity at nearby strikes ($140-$145) supports fresh long exposure interpretation.

Read-through: Adds conviction that dealers will need to hedge to the upside into the $145-$150 resistance zone, reinforcing short-term upward pressure.

PLTR260424C00144000

Vol: 4,838

OI: 459

Vol/OI: 10.5x

IV: 48.9%

Notional: ~$1.8M

Intent: Fresh directional call accumulation into the 1-week expiry at $144; complements the larger $139/$140 activity and shows coordinated buying across strikes and expiries.

Dual read: Could be part of diagonal/calendar structures financing May exposure, but immediate effect is additional upside delta demand.

Read-through: Supports continued move toward the $145-$150 resistance band if followed by more call prints.

PLTR260501C00138000

Vol: 1,991

OI: 205

Vol/OI: 9.7x

IV: 50.8%

Notional: ~$1.7M

Intent: May be a roll or deliberate May-dated ITM call accumulation ahead of earnings (2026-05-04); indicates willingness to carry upside risk through earnings.

Dual read: Could be expiry roll from front-week calls; ITM nature suggests a directional carry rather than pure hedge.

Read-through: If held, it increases medium-term upside exposure and dealer hedging into the May earnings window.

Institutional Positioning

Call additions: Significant call buys clustered $138-$148 across 2026-04-17, 2026-04-24 and 2026-05-01 (notably the massive 2026-04-17 $139 ITM block and heavy $144/$148 weeklies). Top premium and volume are concentrated around $138-$140 and $140-$150 OI walls.

Put additions: Front-week protective put activity concentrated at $136-$139 (PLTR260417P00136000 and other $136-$139 front-week prints) indicate tactical hedging; longer-dated put OI clusters remain at $130, $120, $110 as structural protection but were not the driver of today's flow.

GEX/DEX consistency: Flow now more strongly amplifies the existing positive Total GEX ($+105.1M). The massive ITM call block forces dealer delta-hedging buying which raises effective positive gamma exposure around $140-$142, reinforcing pinning at the $140 GEX concentration (+$25.2M).

OI clusters: Largest OI remains $140 CALL (38,930) and $130 PUT (26,764). New large intraday prints intensify the $140-$142 corridor as a magnet while the multi-tiered call walls at $150-$155 continue to present near-term resistance.

Hedging evidence: Clear evidence of paired behavior: aggressive upside accumulation (large calls) accompanied by targeted short-dated puts for protection (front-week $136-$139). This mix points to institutions adding asymmetric upside exposure while limiting tail risk near-term.

Max pain context: Max pain pins are clustered low ($135-$137 across expiries) and the spot sits above MP. Current call-heavy flow and positive GEX may hold price above the MP band in the near term, but MP around $135-$137 remains an attractor if call flow fades.

Signal vs Noise

~Very large intraday volume at PLTR260417C00139000 (Vol 29,163 vs OI 7,220) may include market-maker legging or block compression — interpret as directional only if follow-up prints continue.

~Multiple small OTM long-dated call premiums at far strikes (e.g., $350, $330 aggregated premium) are noise relative to the concentrated front-month flow (these show in top premium strikes but are not economically relevant to near-term dynamics).

~High-frequency front-week put prints (e.g., PLTR260417P00138000/00139000) are likely tactical hedges around earnings/near-term risk rather than a broad reversal signal.

~Some prints (e.g., 2026-05-01 ITM calls) could be expiry-rolls from front-week positions; watch for offsetting sells in nearby expiries to classify as roll vs fresh risk.

Key Conclusions

🐂Front-month call demand concentrated at $138-$144 and heavy GEX at $140-$142 favors further upside or pinning into the $140-$150 corridor (Total GEX: $+105.1M; Net premium: +$31.8M).

🧭Near-term support cluster sits near $137-$135 (Max pain and deterministic support), watch $137.48 (2d EM low) as the key fail level that would invalidate the bullish flow.

🧾Tactical front-week put buys at $136-$139 represent defensive hedging around short expiries/earnings — they limit immediate upside gamma but do not overwhelm call accumulation.

How to Use These Reports

This flow reflects the market close on April 15, 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.