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PLTR

Palantir Technologies Inc.Close $132.37EOD only

Max Pain

$135.00

Next expiry Apr 17, 2026

Expected Move

±$6.27

4.7% from close

Price Gap

+2.63

Distance to max pain

IV Rank

Low premium

P/C OI

0.98

Balanced positioning

Consensus

6.5/10

Consensus signal

Published snapshot: Apr 13, 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 13, 2026 close

PLTR Theta Report

Analysis based on market close April 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

6 / 10

base 6.0 (provided); +1 large positive GEX +$21.9M (pinning); +0.5 MP close (spot 1.9% below $135); -1 flow mixed/contradictory

IV Environment

IV Regime

High

IV vs VIX

Avg IV 63.6% vs VIX 19.12 — PLTR IV is materially elevated relative to index vol

Favorable?

Yes

Term structure: Near-dated (4–18d) ATM ~51% then rises to ~62–63% in the 25–32d band (hump) which creates rich 30–45 DTE sale opportunities

💰Avg IV 63.6% — rich for premium sellers relative to VIX 19.12

📈Term structure hump (ATM ~62.6% at 32d) favors selling 30–45 DTE premium

Pin Risk Assessment

Spot vs MP: Spot $132.37 is below Max Pain $135 (MP distance ~2.0%–3.5% depending on expiry) — spot is slightly lower than the dominant MP level

GEX regime: Pinning (GEX +$21.9M) — dealers have positive gamma exposure that tends to pin toward nearby OI magnets

Gamma flip: ~$120.00 — Below ~$120 dealers flip to negative gamma amplification; credit positions become at-risk if price moves below this level

OI concentrations: Call wall $140-$155 (big call OI at $140: 29,434; $150: 27,081; $155: 35,155). Put floor clusters at $120 (20,974) and $130 (20,912). Near-term GEX magnets at $132, $133, $135, $137, $140

Verdict: Favorable — strong positive GEX + nearby OI/pin magnets (132–137) support selling premium so long as PLTR remains above the ~120 gamma flip

Premium Opportunities

put spread (cash-secured defined-risk)

Sell 130 / buy 125 put spread exp 2026-05-15 (32 DTE)

30–45 DTE band is rich (ATM ~62.6%) and there is a large put OI cluster at 130 (20,912) plus positive GEX magnets at 132/133/135 that act as a pin. Defined-risk spread keeps assignment/max loss controlled and collects elevated theta.

Credit: $2.40-$3.00

Max loss: $2.60

BE: $127.60

Mgmt: Take profit at 60–70% of max credit; roll down-and-out 3–5 points if short 130 tested with >50% max loss; close if spot < $125 or on daily close < gamma flip $120

iron condor (defined-risk wings)

Sell 135C / buy 140C and sell 125P / buy 120P exp 2026-05-15 (32 DTE)

Max pain is $135 across near expiries and strong call OI wall at 140/150 provides resistance. Positive GEX pinning around 132–137 increases chance of staying inside the wings; an iron condor captures both sides of the pin while defining risk.

Credit: $3.50-$4.50

Max loss: $6.50

BE: 122.50 / 138.50

Mgmt: Take profit at 50% of max credit; close or roll if either short strike is touched intraday (i.e., trade within 1–2 pts of 135 or 125) or if spot < $122 or > $140; exit all if daily close < gamma flip ~$120

cash-secured put (narrow, aggressive theta)

Sell 125 put exp 2026-05-15 (32 DTE)

Selling the 125 put is ~7 pts below spot and sits inside the put OI support band (120–130). With strong GEX pinning above and elevated IV, premium is attractive for buyers of stock at discounted levels. Use cash-secured approach to cap risk.

Credit: $3.10-$3.80

Max loss: $122.90

BE: $121.90

Mgmt: Close at 60–70% of max profit; if price tests 125, consider converting to 125/120 put spread or rolling down-and-out 5–8 points; cut losses and close if spot < $120 (gamma flip region)

credit put spread (higher-probability narrower)

Sell 128 / buy 124 put spread exp 2026-05-22 (39 DTE)

Slightly wider DTE (39) still in elevated IV band (~59.7% ATM); sells into the 132–130 GEX magnets while keeping defined risk. Good if prefer smaller margin and higher probability.

Credit: $1.90-$2.60

Max loss: $2.10

BE: $126.10

Mgmt: Take profit at 60% of max credit; roll down if short 128 threatened with >40% max loss; close if spot < $124 or daily close below $120

covered call (income on existing stock)

Sell 140 call against stock (monthly cycle around 2026-05-15 or 2026-05-22 exposures)

Large call OI wall at 140 and strong calls buying pressure near 140–150 make selling calls attractive for covered holders; collects rich premium (IV elevated). Works with bullish–neutral stockholders who accept assignment near $140.

Credit: $2.00-$2.50

Max loss: Unlimited (stock)

Mgmt: Buy back at 50% of premium captured if stock approaches 138–140; roll up-and-out if assigned and bullish; otherwise accept assignment or close before earnings announcement (2026-05-04)

Risk Alerts

!Earnings 2026-05-04 (within ~3 weeks) — avoid selling naked into/through earnings; prefer defined-risk expiries that expire before earnings or close before announcement.

!Gamma flip ~ $120 — if price drops below this level dealers move from pinning to amplifying moves; close or hedge credits if spot approaches $120.

!Concentrated call OI wall $140–$155 — rapid rallies toward that wall can cause short-call stress; manage upside risk on condors/covered calls.

!Unusual flow: heavy short-dated put flow at 132/133/134 (April 17) — elevated short-dated put activity can create intraday pinning but increases early-assignment/close risk near expiry.

!IV term-structure hump: short-dated IV is lower (~51%) while 25–39d is richer (~59–63%) — selling 30–45 DTE captures the rich band but watch for IV skew and fast collapses that can change wing pricing.

Read the Theta analysis for PLTR for 2026-04-13. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.