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PLTR

Palantir Technologies Inc.Close $137.41EOD only
Max Pain
$134.00
Next expiry May 22, 2026
Expected Move
±$2.71
2.0% from close
Price Gap
-3.41
Distance to max pain
IV Rank
8
Low premium
P/C OI
0.97
Balanced positioning
Consensus
6.5/10
Bullish tilt
Published snapshot: May 21, 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
May 21, 2026 close
PLTR Theta Report
Analysis based on market close May 21, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short put spreads
Invalidation: Break below $130 support
Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV (59.2%) much higher than VIX (16.8), elevated.
Favorable?
Yes

Term structure: Upward sloping from 33.7% (1d) to 40.7% (8d), then flat ~45% for weekly expiries.

📈1d put IV 115% vs call 52%, extreme skew
💰High premium selling opportunity due to elevated IV and pinning

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+128.7M)

Gamma flip: ~$120.00 — Approx — based on put OI concentration of 32,262 (12.7% below spot)

OI concentrations: Max pain pins at $134, $135, $135; heavy call OI $150-$155, put floor $110-$130.

Verdict: Spot $137.23 above max pain; likely pinning near $135-$137, expect mean-reversion.

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $135.00/$130.00 put spread
Sells the $135/$130 put spread to capture elevated put premiums as spot pins near $135; benefits from time decay and IV contraction.
Credit: $1.73-$2.12
Max loss: $2.88
BE: $132.88
Mgmt: Close at 50% profit or at 14 DTE; adjust strike if spot breaks below $130 invalidation level.
#2
Iron condor
Sell 2026-06-18 $135.00/$130.00 put wing and $140.00/$145.00 call wing
Sells the $135/$130 put and $140/$145 call wings to collect premium in a high-IV environment, expecting mean-reversion to $135-$137.
Credit: $3.44-$4.21
Max loss: $0.79
BE: 130.79 / 144.21
Mgmt: Hold to expiry or close at 50% of max gain; adjust wings if pin shifts.
#3
Short strangle
Sell 2026-06-26 $130.00 put + sell $145.00 call
Sells the $130 put and $145 call to exploit high premium and expected pinning, but carries significant downside risk.
Credit: $8.24-$10.07
Max loss: Unlimited
BE: 119.93 / 155.07
Mgmt: Monitor gamma flip at $120; roll if spot approaches strikes; consider closing ahead of earnings.

Risk Alerts

!Gamma flip at $120 (approx) due to put OI concentration of 32,262
!High put/call OI ratio (0.97) indicates large downside hedging
!Net dealer GEX positive $128.7M, but net premium -$16.5M suggests put buying.
How to Use These Reports
This theta reflects the market close on May 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.