PANW Options
PANW $391.50 · Updated Oct 26, 4:00 PM ET
PANW is at $391.50. The nearest expiration, Oct 30, 2026 (4 days out), lists 132 strikes, with 9,392 calls and 4,797 puts traded in the latest session. At-the-money implied volatility is 65.8%. The at-the-money straddle prices a move of about $21.65 (5.5%) by expiration.
PANW Options Chain
PANW is at $391.50. The nearest expiration, Oct 30, 2026 (4 days out), lists 132 strikes, with 9,392 calls and 4,797 puts traded in the latest session. At-the-money implied volatility is 65.8%. The at-the-money straddle prices a move of about $21.65 (5.5%) by expiration.
PANW Gamma Exposure (GEX)
PANW total dealer gamma exposure is $34M across all listed expirations. Positive GEX means dealers are net long gamma; their hedging tends to dampen price moves. The gamma flip is $360.45, with spot 8.6% above it. The call wall is $400.00 and the put wall $350.00.
PANW Max Pain
PANW max pain for Oct 30, 2026 (4 days out) is $372.50, 4.9% below the current $391.50. That is the settlement price at which the open contracts on that date would pay holders the least. For Nov 27, 2026, max pain is $395.00.
PANW Put/Call Ratio
Across every listed PANW expiration, the put/call ratio is 0.57 by volume and 1.06 by open interest. More calls than puts are trading. 211,292 puts and 199,197 calls are open in total.
PANW Implied Volatility
PANW at-the-money implied volatility is 65.8% for Oct 30, 2026 (4 days out). For Nov 27, 2026 it is 62.7%. Near-term volatility is priced above longer-dated volatility, an inverted term structure that usually accompanies an event or stress.
PANW Open Interest by Strike
Across all PANW expirations, the largest call open interest near the current $391.50 sits at the $400.00 strike (11,690 contracts) and the largest put open interest at $350.00 (8,338). 199,197 calls and 211,292 puts are open in total.
PANW Expected Move
The options market prices PANW to move about $21.65 (5.5%) by Oct 30, 2026, a range of $369.85 to $413.15. For Nov 27, 2026 (32 days out) the expected move is $57.68 (14.7%).