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: Jan 15, 2027
Days to expiration: 96
Share price: $418.78
Put/call ratio (OI): 1.24
Put/call ratio (volume): 2.74
ATM implied volatility: 53.4%
Expected move: ±$114.69
Open interest (C / P): 58.57K / 72.40K

PANW options summary

The PANW options chain for the January 15, 2027 expiration lists 111 call and 110 put contracts, with 96 days until expiration. Open interest stands at 58,568 calls and 72,400 puts, a put/call ratio of 1.24, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $420.00 strike is 53.4%, which implies the market expects a move of about ±$114.69 (27.4%) in Palo Alto Networks stock by expiration.

The most open interest sits at the $200.00 call (6.23K contracts) and the $130.00 put (3.80K contracts).

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

PANW options chain · January 15, 2027

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
271	1	—	255.65	346.70	353.20	5.00	0.00	0.05	0.04	290.6%	2	4
—	—	—	—	—	—	10.00	0.00	4.30	0.41	453.3%	2	1
—	—	—	—	—	—	15.00	0.00	4.30	0.86	386.6%	2	1
—	—	—	—	—	—	20.00	0.00	4.30	2.12	344.6%	2	1
0	2	—	253.00	0.00	0.00	25.00	0.00	4.30	2.13	314.3%	2	1
—	—	—	—	—	—	30.00	0.00	4.30	2.12	290.7%	2	9
—	—	—	—	—	—	35.00	0.00	4.30	0.03	271.5%	3	3
—	—	—	—	—	—	40.00	0.00	0.15	0.06	162.5%	4	22
—	—	—	—	—	—	45.00	0.00	1.35	0.34	199.4%	4	4
492	2	—	131.05	214.35	219.60	50.00	0.00	1.45	0.45	191.6%	4	60
—	—	—	—	—	—	52.50	0.00	1.35	0.17	185.1%	4	21
1	—	—	121.05	110.00	119.00	55.00	0.00	0.25	0.15	147.3%	4	95
0	3	—	146.75	0.00	0.00	57.50	0.00	1.35	0.27	176.8%	4	44
11	10	—	118.45	205.25	209.90	60.00	0.00	0.50	0.24	152.2%	4	69
—	—	—	—	—	—	62.50	0.00	1.55	0.28	172.6%	4	4
—	—	—	—	—	—	65.00	0.00	1.46	0.28	167.6%	4	8
0	4	—	88.95	0.00	0.00	67.50	0.00	1.55	0.29	165.5%	4	9
0	1	—	80.35	0.00	0.00	70.00	0.00	0.60	0.30	143.1%	4	103
0	6	—	89.50	0.00	0.00	72.50	0.00	1.68	0.04	160.9%	4	114
0	1	—	80.69	0.00	0.00	75.00	0.00	0.10	0.05	114.1%	4	683
0	2	—	85.45	0.00	0.00	77.50	0.00	1.16	0.31	146.9%	4	108
6	2	—	119.51	184.20	191.25	80.00	0.00	1.42	0.32	148.2%	4	761
4	1	—	257.00	265.10	274.10	82.50	0.00	0.96	0.54	137.9%	4	240
0	4	—	73.50	0.00	0.00	85.00	0.00	1.85	0.57	148.5%	3	273
0	2	—	291.38	0.00	0.00	87.50	0.00	1.82	0.39	145.5%	2	201
41	2	144.8%	288.00	325.70	333.85	90.00	0.00	0.85	0.43	128.6%	2	383
0	2	—	71.20	0.00	0.00	92.50	0.00	0.91	0.54	127.4%	2	249
0	2	—	64.85	0.00	0.00	95.00	0.00	1.45	0.57	133.5%	1	1,279
0	2	—	66.90	0.00	0.00	97.50	0.00	1.46	0.18	131.3%	4	429
122	13	141.8%	294.18	316.20	324.05	100.00	0.00	0.31	0.24	106.5%	2	1,677
54	2	—	84.75	160.30	166.65	105.00	0.01	0.29	0.05	102.5%	2	235
56	1	131.0%	262.85	305.95	314.10	110.00	0.00	0.31	0.31	99.6%	1	2,019
0	4	—	175.40	0.00	0.00	115.00	0.00	0.71	0.10	106.2%	1	746
254	2	112.3%	297.99	296.20	302.75	120.00	0.00	0.78	0.05	104.0%	1	1,948
109	1	—	200.55	205.95	212.85	125.00	0.00	0.61	0.25	97.7%	1	865
168	1	119.9%	263.55	286.25	294.45	130.00	0.00	0.55	0.55	93.5%	1	3,801
141	2	—	156.00	190.55	198.90	135.00	0.00	0.30	0.06	84.6%	1	1,363
296	11	114.3%	192.67	276.45	284.50	140.00	0.02	0.45	0.17	86.2%	1	2,436
146	8	113.1%	264.00	271.80	279.55	145.00	0.00	0.24	0.14	77.5%	2	1,595
942	23	103.7%	264.65	267.00	273.30	150.00	0.00	0.36	0.10	78.6%	2	3,797
301	20	112.6%	223.42	262.95	269.70	155.00	0.00	1.09	0.16	87.5%	2	1,614
966	1	94.5%	256.01	256.75	263.05	160.00	0.00	0.75	0.18	80.8%	2	2,519
699	2	101.8%	232.00	252.00	259.65	165.00	0.10	0.74	0.20	79.5%	2	1,680
524	5	91.7%	241.75	246.50	253.75	170.00	0.00	0.80	0.27	76.6%	300	1,705
846	1	93.9%	229.33	242.00	249.20	175.00	0.00	0.63	0.28	72.1%	2	966
866	2	89.5%	253.45	237.10	243.75	180.00	0.10	0.97	0.28	75.0%	4	2,510
1,116	5	90.0%	218.41	232.55	239.00	185.00	0.00	0.82	1.26	70.2%	165	2,078
765	1	89.0%	231.00	227.25	234.70	190.00	0.00	0.85	0.48	68.4%	1	2,315
1,192	7	80.9%	212.02	222.35	228.30	195.00	0.01	0.69	0.35	64.6%	1	551
6,228	1	82.7%	219.19	217.85	223.80	200.00	0.30	1.04	0.38	68.6%	1	3,579
196	4	86.8%	202.53	212.95	220.65	205.00	0.01	0.96	0.73	63.5%	2	313
518	1	81.0%	210.30	208.10	214.45	210.00	0.01	1.01	0.53	61.9%	640	1,108
332	1	78.9%	191.36	203.00	209.65	215.00	0.01	1.26	0.98	62.0%	4	489
1,819	2	83.8%	192.67	199.25	206.05	220.00	0.50	1.24	0.64	63.0%	1	2,532
519	2	76.5%	195.64	193.50	199.95	225.00	0.01	1.63	1.13	60.5%	1	380
363	28	80.2%	181.93	189.30	196.55	230.00	0.55	1.29	0.92	59.6%	1	708
310	4	73.8%	177.10	183.45	190.75	235.00	0.16	1.83	1.08	58.5%	1	154
886	10	72.4%	181.45	178.70	185.85	240.00	0.44	1.90	1.45	58.2%	3	863
266	2	72.2%	108.26	174.00	181.45	245.00	0.32	2.23	1.68	57.2%	1	124
2,137	1	68.8%	152.00	169.20	175.75	250.00	0.77	2.05	1.62	56.3%	9	1,394
153	1	71.2%	141.94	164.70	172.55	255.00	1.10	2.56	1.91	57.2%	1	139
786	1	69.0%	169.74	159.75	167.50	260.00	1.24	2.65	2.44	56.0%	2	1,238
263	2	68.7%	158.25	155.15	163.25	265.00	1.68	3.05	2.73	56.4%	2	280
763	5	66.5%	141.45	150.55	157.85	270.00	2.00	3.25	2.76	55.7%	1	965
349	5	66.0%	141.15	145.95	153.55	275.00	2.55	3.30	3.16	55.1%	2	357
2,550	4	65.6%	134.57	141.45	149.25	280.00	2.80	3.60	3.35	54.3%	1	942
855	2	64.3%	141.89	137.00	144.35	285.00	3.60	4.70	4.50	55.8%	3	364
862	11	62.8%	138.97	132.50	139.35	290.00	4.00	4.85	4.60	54.7%	5	921
564	3	63.5%	120.73	128.35	135.80	295.00	4.45	5.25	4.80	54.1%	60	481
2,592	7	62.8%	114.00	123.60	131.90	300.00	5.05	6.00	5.67	54.0%	50	2,199
888	2	59.9%	131.94	119.50	125.40	305.00	4.75	7.65	6.40	53.8%	70	455
414	27	60.7%	117.83	115.30	122.35	310.00	6.25	7.45	6.93	53.4%	10	413
713	3	61.3%	94.49	111.15	119.20	315.00	6.45	9.30	10.65	53.7%	47	520
1,775	1	59.8%	99.00	107.05	114.20	320.00	7.30	9.80	8.64	53.0%	10	1,950
576	1	59.4%	97.63	103.05	110.20	325.00	8.50	11.30	11.60	53.7%	1	826
582	2	59.4%	98.18	98.90	106.90	330.00	10.00	11.45	11.00	53.1%	3	529
516	13	57.4%	100.27	95.25	101.00	335.00	9.60	12.40	12.13	51.4%	1	290
444	27	58.4%	96.58	91.50	98.75	340.00	12.05	13.85	12.94	52.6%	2	427
251	5	57.6%	93.30	88.10	94.15	345.00	13.55	15.25	14.95	52.8%	5	1,132
1,616	7	57.8%	87.25	85.05	90.70	350.00	15.05	16.40	15.72	52.6%	45	976
1,451	5	56.4%	79.78	77.30	83.35	360.00	18.00	19.60	18.95	52.4%	16	426
485	13	56.2%	71.00	70.50	77.25	370.00	20.50	23.50	23.30	52.0%	4	601
730	2	55.4%	66.00	64.60	70.10	380.00	24.65	27.00	26.85	51.9%	10	1,065
345	5	57.6%	64.50	61.95	65.05	390.00	27.45	33.15	30.00	52.1%	33	936
1,285	27	57.7%	56.00	56.85	59.95	400.00	32.95	35.90	34.42	51.4%	10	288
616	5	55.9%	49.45	50.05	53.95	410.00	38.30	40.90	39.09	51.6%	10	83
PANW $418.78
556	26	56.3%	47.72	46.70	48.85	420.00	42.90	45.20	45.40	50.5%	2	96
409	52	55.7%	42.50	40.30	45.80	430.00	47.60	52.25	50.60	50.7%	89	20
1,187	14	55.2%	37.43	36.75	40.70	440.00	54.75	59.45	57.10	51.9%	2	34
1,477	19	54.4%	36.10	32.65	36.10	450.00	60.55	65.50	64.00	51.4%	2	23
273	8	55.3%	32.70	30.15	33.55	460.00	66.95	72.40	68.00	51.3%	8	15
234	6	55.4%	29.06	27.30	30.50	470.00	73.95	79.30	89.85	51.2%	1	19
1,339	5	55.5%	25.91	24.55	27.75	480.00	80.90	86.50	98.85	51.0%	10	26
464	5	54.9%	22.09	21.25	24.95	490.00	88.30	92.70	139.67	52.8%	2	24
1,618	22	55.2%	21.30	20.10	22.00	500.00	96.40	101.70	130.45	51.0%	13	51
162	23	55.3%	19.15	16.40	21.60	510.00	103.80	109.65	157.27	50.5%	2	16
335	3	55.2%	17.15	15.60	18.45	520.00	112.40	117.75	155.30	50.7%	7	8
213	1	55.9%	14.80	14.00	17.50	530.00	0.00	0.00	178.25	—	—	0
173	2	54.9%	14.08	12.40	14.50	540.00	128.40	133.35	210.39	52.8%	40	21
1,079	12	54.8%	12.67	11.05	13.00	550.00	0.00	0.00	186.54	—	2	0
120	3	55.8%	11.30	11.00	11.60	560.00	0.00	0.00	194.73	—	22	0
663	6	54.9%	10.30	7.80	11.40	570.00	233.95	241.30	211.89	152.6%	—	0
393	9	54.9%	9.35	7.40	9.75	580.00	162.55	170.75	222.15	56.7%	2	0
461	3	57.1%	8.70	7.05	10.50	590.00	171.75	179.85	232.26	56.9%	4	0
59	6	54.8%	7.50	5.60	8.00	600.00	180.95	189.10	242.73	57.2%	—	0
53	3	57.2%	6.73	4.85	9.35	610.00	—	—	—	—	—	—
52	6	56.8%	5.35	3.95	8.40	620.00	—	—	—	—	—	—
22	1	57.1%	5.16	4.30	7.00	630.00	208.95	217.15	296.40	57.8%	—	0
166	4	57.2%	4.55	4.05	6.15	640.00	218.50	226.70	281.89	58.2%	—	0
140	7	56.0%	4.60	3.40	4.90	650.00	—	—	—	—	—	—
49	1	55.4%	3.88	2.50	4.55	660.00	—	—	—	—	—	—
2	1	57.3%	3.29	3.15	4.20	670.00	248.50	255.75	297.59	60.0%	—	0
19	1	56.0%	3.92	2.01	3.85	680.00	258.30	265.30	307.18	60.0%	—	0
54	3	101.7%	26.87	23.30	27.00	690.00	—	—	—	—	—	—
68	1	57.0%	2.73	1.85	3.25	700.00	—	—	—	—	—	—
152	2	57.5%	2.45	1.68	3.10	710.00	—	—	—	—	—	—
6	4	58.7%	2.23	1.96	2.84	720.00	—	—	—	—	—	—
0	—	58.8%	0.69	1.40	2.95	730.00	—	—	—	—	—	—
8	10	57.5%	2.30	0.01	3.40	740.00	—	—	—	—	—	—
15	4	59.2%	2.15	0.79	2.86	750.00	327.05	335.15	350.82	68.2%	—	1
160	4	60.2%	1.73	0.93	2.71	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 January 15, 2027 expiration, the PANW put/call ratio based on open interest is 1.24 (72,400 puts vs 58,568 calls), and 2.74 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 January 15, 2027 is about 53.4%, 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.