$PLTR PUT $120 | Over halfway there. Thesis intact.
Sold the $PLTR 20260515 $120.0 PUT at $4.49.
Now trading at $2.20. Unrealized: +51.03%.
Position is healthy. Here's the full picture.
Why Palantir at $120?
Let me be direct — PLTR is not cheap by any traditional metric. It never has been. But that's not why I sold this put.
I sold it because the business has crossed a line that most people haven't fully priced in yet. US Government contracts aren't going away. AIP — their AI platform for enterprise — is genuinely gaining traction with commercial clients. The demo days they run convert at a rate that almost no other enterprise software company can replicate. Revenue is growing. Margins are expanding. And they just got added to the S&P 500 not too long ago, which brings a structural bid from passive funds.
$120 as a strike isn't me calling a floor. It's me saying — at this price, the risk-reward of owning the business outright is something I can live with if I get assigned. That's the discipline. You don't sell puts on names you wouldn't hold.
Why the premium was worth collecting:
PLTR carries elevated IV relative to its sector peers. That's partly the retail enthusiasm around it, partly the binary nature of government contract news flow. Either way — that elevated premium is real money in my pocket as the seller. $4.49 collected on a name I'm fundamentally comfortable with at the strike. That's not a gamble, that's a structured income trade.
Where I stand now:
Past the 50% mark. No earnings in the immediate window. Stock is trading well above the strike. Macro headwinds exist broadly but nothing specifically threatening the PLTR thesis — if anything, government AI spending is accelerating, not decelerating.
Holding. Letting theta finish the job.
The only thing that changes my mind:
A genuine breakdown in government IT budget allocation, or PLTR losing a flagship contract that signals competitive displacement. Neither is showing up in the data right now.
Until then — system says hold, I hold.
Not financial advice. Options carry significant risk. Size responsibly.
#PLTR #Palantir #SellPut #WheelStrategy #TigerIDEA #TigerCommunity #OptionsIncome #PremiumSelling #AIEnterprise #T184_Options
Modify on 2026-04-17 09:55
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
