Stacked MOS power amplifiers (PA) are commonly 1 used in SOI nodes but also have the potential to be realized in 2 bulk CMOS nodes. In this paper they are analyzed in millimeter 3 wave regimes. The study focuses on the key limiting factors and in 4 particular the optimum number of transistors from which the key 5 performance parameters such as maximum possible operating 6 frequency, output power, and efficiency are achieved. Based on 7 the analysis, design trade-offs of stacked MOS PAs are presented. 8 The frequency dependency of the optimum load presented to 9 each stack is analyzed to express the overall performance of 10 the mentioned PA topologies as a new optimization method. 11 Additionally, it is shown how the optimal load variations trans-12 late into amplitude-to-amplitude/phase (AM-AM/PM) conversion 13 distortions. The validity of the analysis is examined against 14 simulations. The simulations are performed based on 8M1P 15 CMOS 28nm technology and electromagnetic simulations in ADS 16 Momentum.