Opened a cash-secured put on PLTR — here's the full breakdown
Sold (1) PLTR JUN 5 2026 $128 put for $1.50/contract today. Figured I'd share the reasoning.
Recent PLTR put-selling history
I've had a good run with short puts on this name lately:
- PLTR MAR 27 $138 put → closed for 42.8% annualized over 7 days
- PLTR FEB 27 $125 put → closed for 49.6% annualized over 5 days
That said, I'm not chasing past results. Every new trade needs to stand on its own.
The setup
PLTR has been consolidating after a sharp pullback and the chart is starting to look more constructive. A few things lined up for me:
- Price is sitting right around the 21 EMA, which is starting to flatten. That usually means the worst of the selling pressure is cooling off.
- The stock is back above its earnings VWAP, so post-earnings buyers are on average back in the green. That can shift momentum back toward the buy side.
- There's a rising support line forming under the recent lows. The $128 strike sits below current price (~$137) and near the bottom of that support zone, so there's some cushion built in.
Obviously this isn't some boring dividend stock. PLTR is volatile and demands active management. But that's also why the premium is worth selling.
The trade
- PLTR @ ~$137
- Sold (1) JUN 5 2026 $128 put @ $1.50
- Premium: $150
- Capital required: $12,800
- Projected AROI: 28.52%
- DTE: 15
How I'm managing it
Watching the $128–$130 area closely. If PLTR holds above the earnings VWAP and the 21 EMA turns higher, the thesis stays intact. If it breaks down through support, I'll lean on the same repair playbook I use for all my short puts — reduce cost basis, roll if it makes sense, and only take assignment if it fits the bigger picture.
No panicking, just a systematic response.
Curious if anyone else is selling premium on PLTR right now — what strikes and expirations are you looking at?
