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 17, 2027
Days to expiration: 432
Share price: $418.78
Put/call ratio (OI): 0.68
Put/call ratio (volume): 0.69
ATM implied volatility: 55.5%
Expected move: ±$252.81
Open interest (C / P): 22.33K / 15.23K

PANW options summary

The PANW options chain for the December 17, 2027 expiration lists 87 call and 74 put contracts, with 432 days until expiration. Open interest stands at 22,333 calls and 15,232 puts, a put/call ratio of 0.68, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $420.00 strike is 55.5%, which implies the market expects a move of about ±$252.81 (60.4%) in Palo Alto Networks stock by expiration.

The most open interest sits at the $300.00 call (3.09K contracts) and the $240.00 put (913 contracts).

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

PANW options chain · December 17, 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
142	2	215.0%	370.68	410.00	419.00	5.00	—	—	—	—	—	—
0	6	—	270.01	0.00	0.00	10.00	—	—	—	—	—	—
—	—	—	—	—	—	20.00	0.00	5.10	0.12	169.3%	—	2
1	—	—	142.10	141.00	150.00	25.00	0.00	6.60	0.17	163.4%	2	3
5	1	—	169.57	234.00	243.00	30.00	0.00	5.10	0.18	142.5%	2	2
—	—	—	—	—	—	35.00	0.00	1.33	0.01	105.5%	2	116
—	—	—	—	—	—	40.00	0.00	5.15	0.63	125.3%	2	215
—	—	—	—	—	—	45.00	0.00	5.15	0.26	118.4%	2	100
0	—	—	146.05	102.00	109.60	50.00	0.00	0.00	0.37	50.0%	1	0
263	1	—	209.67	281.00	290.00	75.00	0.05	1.28	0.30	72.2%	10	549
37	1	101.7%	322.89	340.00	348.35	80.00	0.00	7.60	0.88	94.0%	15	128
48	1	—	206.96	243.00	253.00	85.00	0.00	0.95	0.82	64.0%	4	635
150	1	—	260.40	262.00	271.00	90.00	0.00	1.33	0.50	64.7%	1	535
71	2	—	277.57	240.00	248.20	95.00	0.09	0.95	0.81	60.4%	2	184
475	4	90.7%	308.35	321.00	328.75	100.00	0.00	1.18	0.80	59.3%	10	148
0	30	—	286.55	0.00	0.00	105.00	0.25	1.61	1.20	61.3%	2	121
67	1	90.1%	269.72	312.00	321.00	110.00	0.34	1.52	1.42	59.3%	1	74
61	1	—	194.05	241.00	249.00	115.00	0.60	1.63	1.37	59.0%	20	315
27	1	—	251.00	236.00	245.00	120.00	0.47	2.38	1.40	59.5%	3	726
44	1	86.0%	251.52	299.00	307.00	125.00	0.88	2.39	1.85	59.0%	4	221
33	1	84.6%	273.37	294.00	303.00	130.00	0.96	2.65	2.00	58.2%	2	250
34	1	—	207.30	205.00	213.00	135.00	1.28	3.10	1.99	58.4%	1	335
79	1	—	235.60	200.00	208.40	140.00	1.73	3.65	3.78	59.0%	17	454
95	1	—	228.20	215.00	224.00	145.00	2.14	3.65	3.70	58.0%	1	43
286	4	80.4%	285.00	276.00	286.00	150.00	0.50	3.75	3.44	53.1%	3	216
69	2	78.0%	234.25	272.00	279.90	155.00	2.55	4.45	5.41	56.9%	1	27
115	2	77.8%	230.00	268.00	276.00	160.00	3.00	4.90	5.05	56.7%	14	401
63	2	76.8%	234.00	264.00	271.35	165.00	3.75	5.50	5.65	57.0%	12	544
261	1	76.3%	260.00	259.00	268.20	170.00	4.30	5.35	5.59	56.0%	1	397
99	2	75.7%	237.20	255.00	264.00	175.00	5.05	6.05	8.33	56.2%	24	274
106	1	75.2%	230.00	251.00	260.00	180.00	2.00	7.15	6.00	52.1%	1	455
165	3	74.6%	163.50	247.00	256.00	185.00	5.45	7.85	8.30	55.5%	6	251
136	3	72.7%	233.60	243.00	250.10	190.00	4.90	8.55	7.22	54.1%	2	238
200	1	72.0%	211.00	239.00	245.90	195.00	7.35	8.65	9.05	55.1%	1	243
303	4	72.2%	250.00	234.00	244.00	200.00	7.20	10.40	9.72	55.0%	3	475
282	1	70.3%	189.22	227.00	234.10	210.00	8.15	11.50	12.15	53.7%	85	409
150	1	68.8%	209.27	219.00	225.70	220.00	9.05	14.55	14.65	53.7%	59	551
379	2	69.5%	205.20	214.00	218.65	230.00	13.35	16.15	14.30	54.6%	5	284
721	1	67.0%	188.35	204.00	210.80	240.00	15.45	18.60	20.05	54.4%	18	913
425	2	67.6%	194.50	197.00	206.00	250.00	17.65	19.25	19.65	53.0%	2	608
189	1	66.1%	182.00	190.25	197.20	260.00	20.25	23.55	21.45	53.6%	1	341
102	2	65.1%	168.59	183.00	190.05	270.00	21.60	25.25	24.84	52.1%	1	352
242	3	64.8%	161.05	177.00	183.45	280.00	24.70	27.55	27.90	51.6%	1	685
416	3	64.5%	164.54	170.05	178.00	290.00	28.80	30.65	35.15	51.7%	48	238
3,087	6	64.4%	157.49	164.00	172.60	300.00	32.10	34.20	35.40	51.5%	2	721
179	1	64.3%	162.75	159.75	165.75	310.00	35.75	37.45	35.17	51.2%	1	52
298	2	62.8%	144.58	152.00	159.05	320.00	39.40	41.25	41.30	50.9%	6	68
79	3	62.7%	151.81	147.00	153.50	330.00	42.15	46.45	46.04	50.7%	1	114
86	2	63.2%	146.69	141.00	151.00	340.00	46.75	50.80	50.76	50.7%	8	140
158	1	62.6%	124.55	136.00	144.60	350.00	50.80	55.65	53.20	50.5%	7	86
166	1	61.8%	121.05	131.00	137.85	360.00	53.00	61.85	58.31	50.1%	5	20
392	22	61.7%	118.48	127.40	132.30	370.00	59.70	64.95	62.65	51.6%	1	46
170	2	61.4%	119.20	121.80	128.30	380.00	66.05	68.50	69.05	50.5%	82	328
982	3	62.0%	118.10	119.40	124.30	390.00	67.00	77.00	83.50	52.3%	1	33
393	6	61.2%	109.32	113.00	120.00	400.00	73.90	81.55	81.95	51.6%	4	30
644	8	61.2%	112.75	110.75	114.70	410.00	81.45	84.65	84.26	50.0%	21	47
PANW $418.78
790	2	60.9%	108.00	106.30	110.40	420.00	84.00	90.75	90.10	50.1%	3	92
2,195	2	60.4%	100.65	101.00	106.70	430.00	92.70	99.00	95.85	51.3%	2	6
577	4	60.5%	104.65	97.00	104.20	440.00	136.30	144.00	157.20	71.0%	—	6
71	4	60.0%	89.87	93.00	99.50	450.00	102.00	109.40	123.37	49.9%	1	59
194	3	60.8%	91.35	91.65	97.35	460.00	111.50	114.90	141.05	49.3%	—	1
81	3	60.3%	80.25	88.30	92.65	470.00	117.85	121.40	152.10	49.1%	120	121
313	1	59.6%	81.10	83.00	89.45	480.00	121.00	128.15	132.05	49.0%	2	19
101	3	60.1%	82.25	82.10	86.40	490.00	129.40	135.30	183.47	49.1%	2	24
565	2	60.0%	75.70	79.05	83.55	500.00	137.80	141.75	147.35	48.7%	2	14
112	12	60.2%	68.67	77.10	80.80	510.00	142.00	149.20	199.65	48.7%	4	76
46	19	59.8%	64.30	72.00	79.00	520.00	0.00	0.00	178.35	—	—	0
31	10	60.2%	53.80	72.15	75.45	530.00	201.00	210.00	244.75	71.5%	—	3
29	1	59.7%	70.46	67.15	73.90	540.00	—	—	—	—	—	—
888	3	60.1%	68.50	67.20	70.40	550.00	0.00	0.00	205.70	—	—	0
12	1	59.5%	64.45	62.00	69.20	560.00	181.50	185.50	240.17	47.6%	1	14
30	1	59.7%	58.80	61.90	65.60	570.00	189.10	196.00	239.65	49.0%	1	5
51	1	60.5%	60.74	59.75	66.30	580.00	196.75	201.35	234.42	47.5%	2	15
1,540	4	60.0%	42.90	57.75	62.75	590.00	204.30	209.20	271.01	47.3%	2	27
37	1	59.7%	53.27	55.85	59.60	600.00	212.15	217.15	222.20	47.1%	3	4
4	1	59.3%	56.00	52.00	58.35	610.00	—	—	—	—	—	—
89	2	60.0%	56.99	52.30	57.00	620.00	—	—	—	—	—	—
47	51	59.9%	38.10	48.00	57.10	630.00	—	—	—	—	—	—
4	2	60.2%	49.13	49.20	53.85	640.00	—	—	—	—	—	—
9	3	59.8%	44.57	47.50	50.75	650.00	—	—	—	—	—	—
9	5	59.2%	45.66	43.00	50.35	660.00	—	—	—	—	—	—
20	7	60.5%	39.75	44.25	50.35	670.00	—	—	—	—	—	—
6	12	59.2%	19.15	40.00	47.35	680.00	—	—	—	—	—	—
39	2	59.3%	41.80	39.00	45.95	690.00	—	—	—	—	—	—
157	2	60.9%	40.95	40.30	47.00	700.00	295.90	301.20	323.44	45.2%	—	1
8	1	60.2%	36.75	39.15	43.25	710.00	—	—	—	—	—	—
35	2	60.6%	38.65	37.85	43.50	720.00	—	—	—	—	—	—
630	642	61.1%	35.85	36.60	44.00	730.00	—	—	—	—	—	—
14	3	59.7%	32.10	34.20	39.55	740.00	—	—	—	—	—	—
16	8	61.0%	35.10	34.45	40.95	750.00	—	—	—	—	—	—
608	2	59.8%	31.46	33.50	36.10	760.00	349.15	354.85	390.30	44.1%	—	2

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 17, 2027 expiration, the PANW put/call ratio based on open interest is 0.68 (15,232 puts vs 22,333 calls), and 0.69 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 17, 2027 is about 55.5%, 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.