Wheel strategy · $PLTR
Wheeling $PLTR covered calls & cash-secured puts
Palantir Technologies Inc. last traded at $189.67 (Sep 25, 2026). The featured monthly expiry is Oct 16, 2026, 19 days out.
Price
$189.67
52-week $106.37 – $207.52
Volatility
48%
Implied, at the money
Expected move
±$20.57
±10.8% to Oct 16, 2026
Dividend yield
None
Trailing 12 months
Next earnings
Nov 2, 2026
01
The numbers that matter
What a wheel seller checks before opening a trade.
Volatility & expected move
Implied volatility of 48% implies a one-standard-deviation move of about ±$20.57 (10.8%) by Oct 16, 2026 — a range of roughly $169.10 to $210.24.
3-month historical volatility: 71%.
Dividends
$PLTR paid no dividend in the last 12 months.
Earnings
Next report: Nov 2, 2026
The next report is after the Oct 16, 2026 expiry — a ~30-day trade avoids it.
02
Sample trades at ~30 days
One contract at the listed strike closest to 30 delta (its actual delta is shown), computed with the YieldCove calculator’s maths.
Cash-secured put
- Strike
- $180.00
- Delta (this strike)
- 0.29
- Premium
- $4.10
- Cash secured
- $18,000.00
- Credit collected
- $410.00
- Return on capital
- 2.28% · 43.8% annualised
- Breakeven
- $175.90
- Cushion to breakeven
- 7.3%
- Chance of assignment
- 34%
Premium = last trade on Sep 25, 2026 (delayed; the live bid/ask can differ).
Open in the calculatorCovered call
- Strike
- $200.00
- Delta (this strike)
- 0.34
- Premium
- $4.33
- Share cost
- $18,967.00
- Credit collected
- $433.00
- Return on capital
- 2.28% · 43.9% annualised
- If called away (this cycle)
- 7.73%
- Breakeven
- $185.34
- Chance of being called
- 29%
Assumes 100 shares bought at today’s price. Premium = last trade on Sep 25, 2026 (delayed; the live bid/ask can differ).
Open in the calculator03
How the wheel works on $PLTR
Sell a cash-secured put. At a $180.00 strike you would collect about $4.10 per share and need $18,000.00 set aside. If $PLTR stays above $180.00 until Oct 16, 2026, you keep the premium and can sell another put.
If assigned, you own 100 shares. Your effective cost is the strike minus the premium — $175.90 in the example above — not the strike itself.
Sell covered calls above your cost. A $200.00 call would pay about $4.33 per share; if $PLTR finishes above $200.00, the shares are called away and the cycle starts again.
$PLTR sits in the middle of the volatility range: premiums are meaningful and moves can be sharp. Position size matters more than strike selection here.
04
YieldCove research on $PLTR
Palantir: exceptional growth meets an exceptional valuation
Palantir’s Q2 2026 growth and cash conversion cleared an important operating test, but the post-earnings valuation still leaves little room for execution risk.
Read the research05
Common questions
What the numbers mean — and what they leave out.
- What strike should I use to wheel $PLTR?
- Many wheel sellers start near 30 delta, about 30 days out. With $PLTR at $189.67, that was roughly a $180.00 put and a $200.00 covered call for the Oct 16, 2026 expiry at the last refresh. Pick a put strike you would genuinely be happy to own the stock at.
- How much money do I need to wheel $PLTR?
- One cash-secured put reserves 100 × the strike: about $18,000.00 at a $180.00 strike. That cash stays locked until the put expires, is closed, or you are assigned.
- Does $PLTR report earnings before the next monthly expiry?
- No — the next report (Nov 2, 2026) is after the Oct 16, 2026 expiry.
- Does $PLTR pay a dividend, and why does it matter for the wheel?
- It paid no dividend in the last 12 months, so the income comes from option premium alone — and there is no ex-dividend early-assignment risk on covered calls.
- Is wheeling $PLTR safe?
- No options strategy is risk-free. The wheel’s main risk is owning 100 shares after a large drop: premium cushions a fall, it does not prevent one. This page is educational and not a recommendation to trade $PLTR.
06
Keep exploring
Track this wheel free
Log the put, the assignment and the calls in one place: YieldCove tracks premium, cost basis and annualised return across the whole cycle — free.
Data: delayed Yahoo Finance prices and option trades, Nasdaq/FMP earnings calendars and the YieldCove catalyst roadmap; refreshed every few hours. As of Sep 25, 2026.
Educational content only — not financial advice or a recommendation to buy or sell $PLTR or any option. Options involve risk and are not suitable for every investor. Market data is delayed and may be incomplete. Full disclaimer
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