Palo Alto Networks (PANW) Options Chain

NASDAQ: PANWTechnologyComputer peripheral equipmentUSD

418.78+20.28 (+5.09%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Dec 18, 2026
Days to expiration: 68
Share price: $418.78
Put/call ratio (OI): 0.91
Put/call ratio (volume): 0.88
ATM implied volatility: 54.5%
Expected move: ±$98.59
Open interest (C / P): 46.15K / 42.20K

PANW options summary

The PANW options chain for the December 18, 2026 expiration lists 112 call and 105 put contracts, with 68 days until expiration. Open interest stands at 46,153 calls and 42,197 puts, a put/call ratio of 0.91, which is fairly balanced between calls and puts. At-the-money implied volatility near the $420.00 strike is 54.5%, which implies the market expects a move of about ±$98.59 (23.5%) in Palo Alto Networks stock by expiration.

The most open interest sits at the $380.00 call (3.58K contracts) and the $310.00 put (3.75K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

PANW options chain · December 18, 2026

PANW calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
0	1	1007.8%	324.20	409.55	417.90	5.00	0.00	0.57	0.57	459.4%	—	7
0	15	—	156.00	0.00	0.00	10.00	0.00	4.30	0.21	537.4%	—	1
—	—	—	—	—	—	15.00	0.00	4.30	0.17	458.4%	—	1
—	—	—	—	—	—	20.00	0.00	4.30	0.19	408.6%	—	1
—	—	—	—	—	—	25.00	0.00	4.30	0.19	372.7%	—	1
—	—	—	—	—	—	30.00	0.00	4.30	0.19	344.7%	—	1
—	—	—	—	—	—	35.00	0.00	4.30	0.13	322.0%	—	1
—	—	—	—	—	—	40.00	0.00	4.30	0.19	302.8%	2	33
1	2	—	124.05	219.60	224.25	45.00	0.00	4.30	0.01	286.3%	2	25
1	2	—	119.30	214.65	219.35	50.00	0.00	0.00	0.11	50.0%	47	0
—	—	—	—	—	—	52.50	0.00	0.00	0.03	50.0%	47	0
—	—	—	—	—	—	55.00	0.00	0.00	0.09	50.0%	15	0
—	—	—	—	—	—	57.50	0.00	4.30	0.09	253.1%	2	55
0	1	—	177.40	217.80	223.80	60.00	0.00	4.30	0.21	247.5%	2	28
1	—	—	122.80	101.00	110.00	62.50	0.00	1.26	0.35	198.7%	3	18
2	4	—	120.25	99.00	108.00	65.00	0.00	1.68	0.03	202.8%	9	60
1	—	—	124.05	117.25	124.95	67.50	0.00	1.37	0.12	192.8%	10	17
11	3	—	208.42	252.90	260.95	70.00	0.00	1.25	0.34	186.5%	1	77
2	6	—	107.55	121.65	123.85	72.50	0.00	2.90	0.20	208.0%	3	136
0	1	—	198.62	0.00	0.00	75.00	0.00	1.68	0.03	187.1%	4	567
1	—	—	145.88	112.00	121.00	77.50	0.00	4.40	0.15	215.3%	20	103
0	1	—	178.31	0.00	0.00	80.00	0.00	1.37	0.05	174.9%	3	462
3	2	—	140.90	107.00	117.00	82.50	0.00	1.03	1.20	165.0%	1	222
17	2	147.7%	293.40	330.35	337.70	85.00	0.00	1.05	0.55	162.5%	18	306
1	1	—	93.49	177.95	184.85	87.50	0.00	1.47	0.05	167.2%	3	199
10	1	162.9%	298.41	325.40	333.55	90.00	0.00	0.00	0.10	50.0%	5	0
1	2	—	134.65	100.50	107.00	92.50	0.00	1.52	0.23	162.2%	1	340
0	2	—	68.25	0.00	0.00	95.00	0.00	0.81	0.41	146.3%	8	809
10	26	—	74.00	73.15	78.05	97.50	0.00	2.28	0.38	166.6%	1	384
0	32	—	284.55	0.00	0.00	100.00	0.00	0.31	0.13	126.3%	1	1,502
8	10	—	63.40	136.95	145.30	105.00	0.00	0.00	0.15	50.0%	2	0
136	1	147.5%	266.85	305.60	313.75	110.00	0.00	0.00	0.08	50.0%	9	0
34	1	—	152.98	239.70	245.15	115.00	0.00	1.17	0.01	134.4%	2	543
0	1	—	159.28	0.00	0.00	120.00	0.04	0.39	0.08	114.8%	1	1,723
175	1	140.2%	219.80	291.10	298.85	125.00	0.00	0.61	0.53	115.8%	1	1,189
105	1	133.5%	247.69	285.80	293.90	130.00	0.00	0.30	0.10	103.5%	3	1,452
270	1	110.3%	209.92	280.55	287.70	135.00	0.00	1.37	0.10	121.1%	10	968
51	2	119.4%	199.08	275.90	283.20	140.00	0.00	0.67	0.09	106.7%	2	1,219
251	1	125.6%	244.04	272.35	277.80	145.00	0.06	0.14	0.07	90.2%	4	355
125	1	124.1%	248.50	266.35	274.10	150.00	0.00	0.20	0.12	87.5%	51	1,727
119	1	121.1%	266.32	261.40	269.15	155.00	0.00	0.71	0.22	98.0%	1	586
458	3	96.3%	248.79	256.20	262.15	160.00	0.00	0.95	0.18	98.8%	1	1,499
925	5	113.8%	218.70	251.25	259.25	165.00	0.00	1.19	0.12	98.9%	5	387
301	1	101.4%	227.14	246.30	253.00	170.00	0.00	0.87	0.17	91.9%	2	1,025
339	2	99.2%	228.80	241.35	248.05	175.00	0.05	0.23	0.14	77.7%	20	382
1,328	3	111.9%	213.06	237.70	244.25	180.00	0.05	0.23	0.14	75.4%	5	1,049
1,576	5	95.4%	217.51	231.45	238.20	185.00	0.01	0.42	0.16	76.8%	8	276
2,067	1	95.9%	242.00	226.90	233.25	190.00	0.16	0.45	0.21	77.6%	7	822
537	3	91.5%	193.51	221.60	228.30	195.00	0.19	0.47	0.23	76.0%	6	273
1,263	5	99.2%	202.56	217.05	224.85	200.00	0.01	0.72	0.25	74.7%	2	954
180	1	92.1%	165.79	213.05	217.95	205.00	0.00	1.10	0.01	76.6%	9	134
373	35	97.5%	195.60	208.10	214.85	210.00	0.27	0.72	0.39	73.1%	2	368
224	2	87.8%	195.75	203.15	208.10	215.00	0.15	0.72	0.35	69.6%	2	91
708	12	82.6%	199.10	196.95	203.75	220.00	0.30	0.77	0.30	69.4%	2	1,180
163	10	85.9%	196.45	193.35	198.75	225.00	0.05	1.20	0.65	68.8%	33	428
480	2	78.9%	179.45	187.15	193.85	230.00	0.00	1.32	0.21	67.1%	2	439
340	10	81.1%	184.63	182.50	189.70	235.00	0.00	1.47	0.49	66.1%	34	303
1,480	2	77.3%	154.81	177.75	184.10	240.00	0.60	1.01	0.62	64.8%	1	399
204	4	78.0%	144.94	172.75	180.05	245.00	0.00	1.69	0.87	63.2%	2	101
3,227	5	71.3%	169.80	168.05	173.50	250.00	0.60	1.02	0.81	60.7%	10	509
527	5	71.5%	126.24	162.80	169.50	255.00	0.09	1.84	1.31	60.4%	1	321
809	1	68.5%	146.80	158.00	164.10	260.00	0.92	1.50	1.33	60.6%	16	400
104	1	73.2%	129.50	153.45	161.20	265.00	0.50	1.72	1.50	57.6%	5	368
605	1	68.8%	115.00	148.45	155.40	270.00	1.20	1.98	1.49	59.5%	137	295
294	1	70.3%	119.00	143.70	151.80	275.00	0.94	2.73	2.32	59.0%	4	240
284	5	65.1%	134.00	139.25	145.05	280.00	1.80	2.34	2.07	58.4%	25	624
157	8	67.0%	118.37	134.60	141.65	285.00	1.52	3.35	2.35	58.2%	20	490
180	2	67.0%	120.25	129.70	137.85	290.00	2.20	2.89	3.20	56.6%	5	559
329	1	65.9%	129.23	125.35	132.95	295.00	2.41	3.20	2.90	55.7%	63	338
448	4	67.0%	123.60	121.65	128.80	300.00	3.40	4.20	3.45	57.8%	10	1,848
210	10	63.9%	120.71	116.40	123.65	305.00	2.80	5.60	4.00	57.0%	24	356
162	7	66.9%	107.08	113.80	120.00	310.00	4.20	5.00	4.43	56.2%	19	3,755
490	2	66.6%	100.00	110.00	115.55	315.00	4.55	5.65	5.40	55.5%	12	311
714	1	61.7%	103.95	104.90	108.85	320.00	5.40	6.00	5.90	55.0%	18	400
467	1	59.0%	92.10	100.40	103.25	325.00	4.85	8.35	6.58	55.2%	30	178
970	1	60.4%	93.80	94.80	102.05	330.00	6.40	8.10	7.46	54.5%	23	356
279	1	60.6%	93.00	90.75	98.55	335.00	7.80	9.20	8.35	55.2%	6	282
217	6	60.5%	79.01	86.60	95.00	340.00	9.25	10.15	9.70	55.4%	11	298
224	5	60.0%	88.04	82.85	90.95	345.00	8.25	11.50	11.15	53.3%	16	542
617	22	58.1%	78.00	79.10	85.50	350.00	10.85	12.40	11.52	54.3%	43	1,448
686	15	58.0%	79.56	71.75	78.75	360.00	13.35	14.70	14.70	53.6%	37	391
441	7	57.5%	59.80	65.95	70.70	370.00	16.15	17.95	17.50	53.3%	33	606
3,577	6	56.5%	61.77	59.25	63.60	380.00	19.80	21.70	20.50	53.5%	29	652
779	7	56.7%	54.70	53.15	58.25	390.00	23.40	26.25	24.91	53.6%	22	224
1,060	12	56.7%	50.60	47.65	52.90	400.00	28.15	31.05	29.49	54.0%	7	825
599	15	56.8%	45.00	43.55	47.00	410.00	32.40	35.90	34.01	53.5%	8	109
PANW $418.78
601	32	55.9%	42.85	38.75	41.10	420.00	38.30	40.20	39.40	53.2%	29	79
1,095	10	58.3%	36.13	35.95	38.90	430.00	43.40	48.05	48.65	54.3%	2	48
3,496	15	56.4%	31.77	30.65	33.60	440.00	48.80	53.40	51.11	53.3%	5	14
834	26	58.2%	29.00	27.70	32.05	450.00	55.35	60.45	77.55	53.8%	3	8
339	20	56.2%	25.85	24.05	26.35	460.00	61.50	67.10	76.85	53.2%	3	22
180	31	58.3%	20.60	22.40	25.10	470.00	69.20	74.25	84.55	53.6%	2	5
194	1	55.7%	15.31	17.35	21.40	480.00	0.00	0.00	131.72	—	2	0
553	10	56.2%	13.01	15.85	18.80	490.00	83.80	89.35	115.40	53.1%	16	19
1,784	65	55.6%	15.85	13.55	16.20	500.00	91.40	97.35	89.50	52.7%	22	24
311	10	56.5%	11.20	11.95	15.15	510.00	160.55	166.75	167.02	142.0%	1	1
754	397	58.7%	12.05	12.00	14.20	520.00	108.10	114.10	109.65	52.8%	1	6
179	4	56.9%	10.00	7.80	13.40	530.00	116.20	122.70	115.05	52.2%	10	10
97	4	59.7%	9.00	9.05	12.20	540.00	123.70	132.00	210.62	51.2%	2	4
121	1	56.8%	6.90	7.15	8.95	550.00	133.05	140.90	178.70	51.4%	2	1
158	30	57.1%	7.05	6.50	7.80	560.00	0.00	0.00	194.45	—	—	0
154	8	59.3%	6.62	6.35	7.80	570.00	0.00	0.00	203.75	—	3	0
63	11	57.4%	5.50	4.85	6.15	580.00	227.05	235.00	225.31	160.9%	3	3
926	1	58.3%	3.95	3.15	7.05	590.00	170.40	177.50	240.50	50.4%	1	0
453	10	57.3%	4.15	3.60	4.70	600.00	—	—	—	—	—	—
40	1	56.0%	3.25	1.99	4.50	610.00	—	—	—	—	—	—
124	5	56.1%	2.53	1.95	3.70	620.00	—	—	—	—	—	—
40	3	57.9%	2.08	2.27	3.40	630.00	—	—	—	—	—	—
237	7	58.3%	2.53	1.88	3.20	640.00	—	—	—	—	—	—
112	154	58.0%	1.89	1.60	2.69	650.00	312.10	321.00	282.30	200.8%	—	0
55	2	58.3%	1.68	1.25	2.57	660.00	—	—	—	—	—	—
37	68	58.6%	1.97	0.72	2.70	670.00	—	—	—	—	—	—
87	4	60.5%	2.26	1.23	2.33	680.00	—	—	—	—	—	—
2	2	66.0%	1.27	0.01	5.05	690.00	—	—	—	—	—	—
124	1	60.6%	1.30	0.70	2.05	700.00	—	—	—	—	—	—
48	2	60.0%	1.50	0.01	2.24	710.00	—	—	—	—	—	—
15	12	62.9%	1.34	0.01	2.64	720.00	—	—	—	—	—	—
28	4	61.2%	1.46	0.01	1.95	730.00	—	—	—	—	—	—
65	2	61.7%	1.29	0.01	1.80	740.00	—	—	—	—	—	—
27	1	62.5%	2.16	0.25	1.48	750.00	—	—	—	—	—	—
82	8	62.5%	0.71	0.17	1.34	760.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the PANW put/call ratio?

For the December 18, 2026 expiration, the PANW put/call ratio based on open interest is 0.91 (42,197 puts vs 46,153 calls), and 0.88 based on today's volume. A ratio above 1 means more puts than calls.

What is PANW's implied volatility?

At-the-money implied volatility for PANW options expiring December 18, 2026 is about 54.5%, an annualized estimate of how much the market expects Palo Alto Networks stock to move.

How many PANW option expiration dates are there?

PANW has 16 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.