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PLTR

Palantir Technologies Inc.Close $135.70EOD only

Max Pain

$135.00

Next expiry Apr 17, 2026

Expected Move

±$5.38

4.0% from close

Price Gap

-0.70

Distance to max pain

IV Rank

Low premium

P/C OI

0.97

Balanced positioning

Consensus

6.0/10

Range bias

Published snapshot: Apr 14, 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 14, 2026 close

PLTR Theta Report

Analysis based on market close April 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

6.5 / 10

base 6.5 (pre-computed); +1 high avg IV 62.8% improves edge; +1 strong GEX pinning +$61.6M; -1 mixed flow/DEX +95.6M shares increases assignment/flow risk

IV Environment

IV Regime

High

IV vs VIX

Avg IV 62.8% vs VIX 18.36 — materially rich

Favorable?

Yes

Term structure: Front-week ATM IV ~47.6–49.7% (3–17d) then a kink higher at ~24–31d (63.9% / 61.3%) — steep mid-term vol; good calendar/spread opportunities

💰Avg IV 62.8% is rich vs market VIX 18.36 — sellers earn wide edge

📈Term structure steepens into 24–45d (ATM 63.9% @24d, 58.6% @45d) — ripe for 30–45 DTE defined-risk spreads

Pin Risk Assessment

Spot vs MP: At (spot $135.70 vs max pain $135 — ~0.52% above MP)

GEX regime: Pinning (Total GEX +$61.6M; concentrated positive GEX at $137/$138/$140)

Gamma flip: ~$130.00 — Below $130 dealers move from pinning to short-gamma amplifying downside; defined-risk positions should be exited/rolled if price breaches sustainably

OI concentrations: Put wall $130 OI=27,017; call walls $140 (38,661), $150/155 clusters — GEX magnets at $140 (+$18.7M), $137 (+$12.5M), $138 (+$9.4M), $135 (+$5.7M)

Verdict: Favorable — strong positive GEX and repeated max pain at $135 support short premium; pinning environment supports credit sellers as long as price stays above ~$130

Premium Opportunities

put spread

Sell 130/125 put spread 2026-05-29 (~45 DTE)

Defined-risk put spread near the gamma flip/$130 put OI wall (27,017) captures elevated mid-term IV (58.6% @45d) while staying inside 1-week EM bounds; dealer pinning supports staying above $130

Credit: $1.10-$1.50

Max loss: $3.90

BE: 128.90

Mgmt: Take profit at 50–65% of max credit; roll down and widen if price tests $130 but position <30% width filled; cut losses if price closes below $130 with momentum or if spread mark >50% of max loss

iron condor

Sell 132/128P and 146/150C iron condor 2026-05-15 (~31 DTE)

31 DTE region shows elevated IV (61.3%) and a symmetric EM that fits the $126.55–$144.85 1w range; use defined-risk wings to monetize high vol while taking advantage of pinning near $135

Credit: $1.60-$2.20

Max loss: $2.40

BE: 129.40 / 148.60

Mgmt: Close at 50% of max profit; tighten/roll wings outward if either short strike is touched with >10% move against; exit below $130 or above $150 on strong momentum

cash-secured put (CSP)

Sell $130 put 2026-04-24 (10 DTE) — short-dated, aggressive size

Very high front-week flow and concentrated put OI at $130 (27,017) and max pain at $135 make near-term CSP attractive for buyers of assignment or short-term income. ATM 10d IV 49.4% makes premium sizable for weekly sellers

Credit: $2.30-$2.35

Max loss: Unlimited to downside (stock assignment) but cash-secured loss = (130 - premium) per share

BE: $128.65

Mgmt: Close for 50–70% profit after first 3–5 trading days; if assigned, convert to covered stock / sell calls. Cut losses (buy back) if close below $130 with high volume or if option mark >60% of notional risk

call credit spread

Sell 140/145 call spread 2026-05-01 (~17 DTE)

Heavy call OI at $140 (38,661) and GEX magnet +$18.7M make the 140 short strike a reasonable place to sell calls against nearby call wall; 17 DTE still carries elevated IV (~49.7%) so premium is attractive while defined-risk limits upside

Credit: $0.90-$1.20

Max loss: $3.10

BE: 141.20

Mgmt: Take profits at 50–65%; if PLTR rallies into 140 with momentum, roll up 1–2 strikes and defend with additional credit or close if call spread mark >50% of max loss

calendar (buy back-month sell front-month)

Sell 2026-04-24 135 call and buy 2026-05-29 135 call (calendar) — neutral, debit structure

Front-week IV is suppressed vs 24–45d; selling front-week 135 call collects high theta while long farther-dated call captures higher mid-term IV. Works with pinning at $135.

Debit: $0.90-$1.40

Max loss: $1.40

BE: Dependent on future vols; target long-call calendar to capture front-week theta and steep 30–45d vol

Mgmt: Close front leg for 60–80% profit after 3–5 days if decay executes; unwind if IV term structure flattens or if price runs >$140; cap loss at full debit if moved strongly against within first 7 days

Risk Alerts

!Earnings 2026-05-04 (TBD) — within ~3 weeks. Do NOT hold naked short premium through the print; prefer defined-risk strikes or close positions before event.

!Gamma flip ~$130 — sustained close below $130 converts dealer positioning from pinning to short-gamma amplification; exit or defensively roll credit positions if price moves below $130 on momentum.

!Large positive GEX (+$61.6M) concentrates pinning at $135–$140; while supportive, rapid reversals into $150 call wall could force heavy dealer hedging and widen spreads — manage wings tightly.

!Unusual activity clustered at $136–$137 (calls and puts) and heavy flow into $140/$150 calls — potential institutional directional positioning that can skew short-dated moves; monitor flow intraday.

!High DEX (95.6M shares) and net premium negative $-66.4M imply high dealer delta hedging and retail activity — assignment risk for short puts and early-call risk around ex-dividends (none listed) or unexpected corporate events.

Read the Theta analysis for PLTR for 2026-04-14. Each report is a market-close snapshot with regime read, key levels, and strategy context that translates options positioning into an actionable setup.