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PLTR

Palantir Technologies Inc.Close $152.62EOD only
Max Pain
$143.00
Next expiry Apr 24, 2026
Expected Move
±$4.88
3.2% from close
Price Gap
-9.62
Distance to max pain
IV Rank
45
Middle-high premium
P/C OI
1.06
Balanced positioning
Consensus
6.5/10
Bullish tilt
Published snapshot: Apr 22, 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 22, 2026 close
PLTR Theta Report
Analysis based on market close April 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Avoid naked premium-selling; prefer defined‑risk bearish put spreads or hedged income structures
Invalidation: Sustained spot <130 invalidates the current theta/neutral thesis; spot <120 (gamma-flip) would accelerate downside and further invalidate trades
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.7% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
30d ATM IV ~56–66 rich vs VIX; 7d ATM ~85 elevated; 1d ATM spiking to ~129 on put flows
Favorable?
No

Term structure: Front-week skew steep with very elevated short-dated put IV; mid-dated curve ~60–75 then softens further out

⚠️Dealer GEX net negative (~-$4.0M) amplifying moves
📌Max-pain cluster $140–144 near spot; concentrated put OI just below spot

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-4.0M)

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 22,557 (15.2% below spot)

OI concentrations: Put OI concentrated ~15% below spot (~22.6k); call walls $150–160; put floor $100–130

Verdict: Medium‑high pin risk into upcoming expiries (04-24, 05-01, 05-08) given clustered OI and short-dated put IV spikes

Premium Opportunities

#1
Put credit spread
Sell 2026-05-15 $130.00/$125.00 put spread
Sell $130/$125 put spread to collect rich put premium while limiting loss if spot falls toward 125.
Credit: $1.21-$1.48
Max loss: $3.52
BE: $128.52
Mgmt: Close or roll if spot sustains <130 or IV collapses; trim before earnings if risk rises.
#2
Iron condor
Sell 2026-05-15 $130.00/$125.00 put wing and $144.00/$149.00 call wing
Sell both wings to monetize elevated skew while capping both tails.
Credit: $3.04-$3.71
Max loss: $1.29
BE: 126.29 / 147.71
Mgmt: Narrow wings or buy protection if spot nears either wing or short-dated put IV spikes.
#3
Call credit spread
Sell 2026-05-15 $150.00/$155.00 call spread
Short $150/$155 call spread to collect call premium and cap gamma exposure.
Credit: $1.42-$1.73
Max loss: $3.27
BE: $151.73
Mgmt: Roll up/close if spot >144 or ahead of earnings volatility.

Risk Alerts

!Short-dated put IV extreme — rapid repricing risk
!Negative GEX amplifies directional moves
!Sustained spot <130 invalidates thesis; spot <120 (gamma flip) accelerates downside
How to Use These Reports
This theta reflects the market close on April 23, 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.