Moderately bullish activity in Palo Alto Networks (PANW), with shares up $1.53, or 0.88%, near $176.94. Options volume roughly in line with average with 93k contracts traded and calls leading puts for a put/call ratio of 0.42, compared to a typical level near 0.54. Implied volatility (IV30) is higher by 0.6 points near 42.56,and above the 52wk median, suggesting an expected daily move of $4.74. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Mixed at BWG Global.Looking ahead: Palo Alto Networks (PANW) will report earnings after the close on 2025-08-18.Option markets are pricing in a 50% probability of a move greater than 7.32% or $12.95.
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