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PLTR

Palantir Technologies Inc.Close $145.89EOD only

Max Pain

$140.00

Next expiry Apr 24, 2026

Expected Move

±$6.62

4.5% from close

Price Gap

-5.89

Distance to max pain

IV Rank

Low premium

P/C OI

1.07

Balanced positioning

Consensus

5.5/10

Range bias

Published snapshot: Apr 20, 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 20, 2026 close

PLTR Theta Report

Analysis based on market close April 21, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 20

IV Environment

IV Regime

High

IV vs VIX

PLTR IV (avg ~63%) materially elevated vs VIX 19.5 — idiosyncratic premium

Favorable?

Term structure: Steep short-tenor put skew (3d put IV 103.9) compressing into 1–4 week expiries; longer-dated IV moderates

⚠️Very high near-dated put IV vs calls (3d put IV 103.9) — costly to sell naked premium; consider hedges or long vol

📌Gamma regime = Pinning with dealer GEX +$67.7M and max-pain cluster at ~$140–142 — flow-sensitive around spot

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+67.7M)

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 19,301 (17.8% below spot)

OI concentrations: Put OI concentrated 17.8% below spot; max-pain pins at $142/$140 across near expiries

Verdict: Pin risk elevated — clustered strikes near spot increase likelihood of intraday pinning and acute order-flow sensitivity

Premium Opportunities

Put diagonal

Sell 2026-05-22 $134.00 put / buy 2026-06-18 $135.00 put

Short May22 $134 put vs long Jun18 $135 to shorten gamma into event and keep downside hedge.

Debit: $2.00-$2.45

Max loss: $2.45

BE: Path-dependent

Mgmt: Close or roll short leg before earnings or if price breaches $142; keep long leg as hedge.

Call diagonal

Sell 2026-05-22 $167.50 call / buy 2026-06-18 $170.00 call

Sell May22 $167.5, buy Jun18 $170 to capture term premium and stagger exposure across event.

Debit: $1.39-$1.70

Max loss: $1.70

BE: Path-dependent

Mgmt: Manage short leg into earnings; unwind if spot < $142 or IV collapses.

Call diagonal

Sell 2026-05-29 $160.00 call / buy 2026-07-17 $170.00 call

Sell May29 $160, buy Jul17 $170 to reduce cost and exposure to dealer gamma near earnings.

Debit: $1.06-$1.29

Max loss: $1.29

BE: Path-dependent

Mgmt: Trim if rapid negative flow or spot < $142; roll outward if needed.

Risk Alerts

!Near-dated put IV spike implies costly tail moves — avoid naked short-dated puts

!Gamma flip ~$120 could trigger nonlinear dealer hedging if spot drops; favor hedged or long-vol positioning

!Large net premium outflow (-$83.5M) amplifies rapid repricing risk and dealer fragility

How to Use These Reports

This theta reflects the market close on April 21, 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.