PANW options: estimated premium turnover $23M; largest line PANW261016P00300000 (Put) $1M (expires 2026-10-16)PANW 期权异动：所扫描合约成交权利金估算约 $23M；最大合约 PANW261016P00300000（看跌期权 Put）约 $1M（2026-10-16 到期）
Options Flow Snapshot
Estimated premium turnover across the scanned PANW contracts was $23M on 19,334 contracts. The call/put volume ratio was 0.9x (calls 9,166 / puts 10,168). The largest line was PANW261016P00300000 (Put), with estimated premium turnover of $1M and expiration on 2026-10-16. The nearest expiration was 2026-09-11; the ATM options implied a move of about 4.6%. Average call IV was 27.6%, average put IV was 43.8%, and put/call IV skew was +16.1 pts.
Signal Read-Through
The measurements show a change in concentration and relative options pricing. Call/put volume, the largest contract, and IV skew describe the observed contract structure; they do not identify the initiating buyer or seller and do not by themselves establish a net long or short direction.
Fundamental and Event Cross-Check
The underlying moved +0.4% in the same snapshot. This is concurrent market context, not evidence that the options flow caused the move.
Follow-Up Markers
Watch whether volume and open interest increase together in the largest contract, whether ATM implied volatility persists, and whether call/put activity and IV skew continue in the same direction into expiration. A single snapshot is not a trade recommendation.
期权成交结构
PANW 所扫描合约权利金成交额估算为 $23M，成交量 19,334 张；Call/Put 成交量比为 0.9x（Call 9,166 张 / Put 10,168 张）。最大合约为 PANW261016P00300000（看跌期权 Put），权利金成交额估算 $1M，到期日 2026-10-16。最近到期日为 2026-09-11，ATM 隐含波动对应的价格区间约 4.6%；平均 Call IV 为 27.6%，平均 Put IV 为 43.8%，Put/Call IV 偏斜为 +16.1 pts。
信号含义
这组数据说明成交集中度和期权相对定价发生变化。Call/Put 成交量、最大合约和 IV 偏斜只描述所观察到的合约结构；它们不能识别每笔交易的主动买卖方，也不能单独证明净多头或净空头方向。
基本面与事件交叉验证
同期标的价格变动为 +0.4%，这是并列的市场背景，不证明期权成交导致了该价格变化。
后续关注
关注最大合约后续成交量与未平仓量是否同步增加、ATM 隐含波动是否维持，以及临近到期时 Call/Put 成交与 IV 偏斜是否继续同向变化。单次快照不构成交易建议。
For information only. Not investment advice.内容仅供参考，不构成投资建议。