Moderately bullish activity in Palo Alto Networks (PANW), with shares up $4.39, or 2.77%, near $162.96. Options volume roughly in line with average with 45k contracts traded and calls leading puts for a put/call ratio of 0.65, compared to a typical level near 1.06. Implied volatility (IV30) is higher by 0.8 points near 39.31,and above the 52wk median, suggesting an expected daily move of $4.04. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Arete.
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