PANWPalo Alto Networks, Inc. Common Stock
Options Analysis Report•COMPUTER PERIPHERAL EQUIPMENT, NEC
Market Cap $136.1B|NASDAQ
● 2026-04-17$167.85
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +4.9%YTD -6.4%7D +7.8%
Options Vol
35,261
30D
Implied Move
±12.7%
IV Rank
46%
PANW Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 77.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.81x — IV ≤ HV
Sector Relative≤50%
Sector percentile 46% — below sector median
Term Structure
<1.1xFront/Back 0.93x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 45.8% — normal range
Spread-Adjusted Value
<80%Effective IV 63.1% (ATM 45.8% + spread 8.6% + bias) — good value
Execution Efficiency
<3.0%Total drag 14.15% (spread 8.64% + slippage 5.51%) — high friction
Vega Efficiency
≥5.0Vega efficiency 79.72 (vega 68.877 / spread 8.64%) — efficient
Sentiment
Bullish or bearish?
5.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -5%, Raw: +5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -5% (neutral) — Raw: +5%
OI Skew Magnitude
≥15%|OI skew| 3.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +9.3%, OI skew +3.6% — weak (same direction)
Conviction Quality
≥2/3 conditions0-DTE 41%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -2%, ATM: +8%, OTM: +3% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 70% — bearish vs sector
Activity
Unusual activity?
3.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.9x avg — normal
Turnover Rate
≥15%Vol/OI 6.1% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +5.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 45% — neutral vs sector
Trade Quality
≥30%Large trade volume 23% — mixed
Execution Urgency
≥60%Aggressive execution 34% — patient
Flow Conviction
≥30Conviction -5 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.6% — wide
Adequate OI
≥10,000OI 575,505 — deep
Active Volume
≥500Volume 35,261/day — active
Reasonable Cost
≤$0.50$0.43 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 47% — neutral vs sector
Order Book Depth
≥100 contractsDepth 194.60000000000002 contracts (bid:113.7 ask:80.9) — adequate
Execution Quality
<1.0%Avg slippage 5.51% — poor
Timing
Is now a good time?
7.3
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -6.6% — contango
IV Percentile Clarity
<30 or >70IV percentile 77% — seller opportunity
Event Detection
≥10pts kinkIV kink -3.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1565.38 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -5% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 53 (ITM 20% + inst 23%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV cheap, mixed flow
Long Puts5.7
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, mixed flow
Covered Call4.8
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.