PLTR Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-17. Spot $171.75.

Put/Call (OI)

1.00

1.8M P / 1.8M C

Put/Call (Volume)

0.66

134k P / 203k C today

30d ATM IV

45%

annualized implied move

Call wall

$200

125k contracts

Put wall

$100

125k contracts

Tail hedging

2.4×

deep-OTM puts vs calls

What the positioning says

●Call wall at $200 (125k contracts), 16% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $100 (125k contracts), 42% below spot — the hedge floor; often acts as support.
●Deep-OTM put open interest is 2.4× deep-OTM call OI — an institutional hedging ladder sits under this stock.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-09-18. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	294k	254k	0.86	211k
2026-08-28	53k	48k	0.90	28k
2026-09-04	30k	29k	0.95	16k
2026-09-11	16k	12k	0.74	4k
2026-09-18	235k	193k	0.82	23k
2026-09-25	6k	4k	0.69	2k
2026-10-02	393	365	0.93	763
2026-10-16	87k	100k	1.15	8k
2026-11-20	89k	97k	1.09	5k
2026-12-18	190k	209k	1.10	7k
2027-01-15	293k	344k	1.17	7k
2027-02-19	20k	16k	0.83	1k
2027-03-19	70k	81k	1.16	6k
2027-06-17	149k	148k	1.00	4k
2027-09-17	14k	19k	1.38	643
2027-12-17	109k	112k	1.03	8k
2028-01-21	98k	78k	0.80	938
2028-12-15	80k	89k	1.11	2k

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.