PLTR

Short-term directional pressure into the ~ $120 gamma flip is the central thesis — dealer short-gamma and current positioning make moves toward that level self-reinforcing even though larger call walls cap rallies above $140–$155.

Earnings and theta conflict: the earnings regime (high vol, mixed flow, event risk) implies a large binary move that directly undermines premium-selling/defined-income strategies unless hedged; similarly, the directional bearish near-term view conflicts with flow signals that show institutional buying interest (flow report) which supports longer-term upside and could absorb near-term selling, undermining the pure short bias.

Sell May 22 $120/$110 put spread for a net credit (defined-risk, captures short-term downside bias while limiting event exposure).

A decisive break and daily close below $120 triggers dealer re-hedging (gamma flip), stripping the pin and causing accelerated selling toward the $110 structural support/gap — this outcome would invalidate the short-term pin thesis and rapidly repriced OI and vol.