PLTR: Technical Analysis Based on GEX Gamma Feb. 5Key Observations from the GEX:
1. Gamma Exposure (GEX):
* CALL GEX Dominance (52.4%): Indicates a relatively bullish sentiment, with more exposure leaning towards upward price momentum.
* This suggests market makers might facilitate upward movements until resistance levels are reached.
2. Key Levels:
* Highest Positive NETGEX (Resistance): Near $108.91, a critical resistance point where call options could slow further upward momentum.
* Immediate Resistance: Around $115, which aligns with the second CALL wall.
* PUT Support Zones: At $99, $97, and lower. These levels act as a cushion for downward price movement.
3. Implied Volatility (IV):
* IV Rank (IVR): At 53.7, this indicates moderately elevated volatility compared to historical levels.
* IVx (Average IV): At 68.8%, implying options are slightly expensive but could offer significant moves.
Potential Trade Scenarios:
1. Bullish Scenario:
* If PLTR holds above $101 and breaks above $103, a move toward $108 and potentially $115 is possible.
* Suggestion:
* Buy 7 (or 9-23) DTE Calls: Strike price $105, targeting $108-$110.
* Exit on a clear rejection at $108 or $110.
2. Bearish Scenario:
* If PLTR fails to hold above $101 and falls below $99, it could test $97 or lower.
* Suggestion:
* Buy 7 (or 9-23) DTE Puts: Strike price $100, targeting $97-$95.
* Stop loss above $103.
Suggested Trade:
* Primary Trade (Bullish): Buy 7 (or 9-23) DTE Calls at $105.
* Stop Loss: Below $100.
* Take Profit Levels: Partial exit at $108, full exit at $115.
Key Reminders:
* The GEX indicator suggests potential upward momentum unless strong resistance levels like $108.91 are reached.
* Always check real-time GEX updates during trading to adjust for shifts in gamma exposure.
