PANW — Cash-Secured Put & Wheel Strategy Analysis

Q: Is PANW a good wheel strategy stock right now?

PANW is trading at $323.79 with an ATR of $17.51. PANW is trading above all four key moving averages (50/100/150/200-day) — a strong uptrend. Next earnings report is August 18, 2026 (25 days away). Earnings is far enough out that current premiums reflect normal implied volatility.

Q: Should I close my PANW CSP before earnings?

Most wheel strategy traders close or roll CSPs 1–2 days before earnings because implied volatility typically collapses after the announcement (IV crush). The premium you collected is largely an upfront payment for accepting that volatility risk. Holding through earnings exposes you to gap risk: even if your strike isn't breached, the IV drop alone can wipe out most of the premium you collected.

PANW wheel strategy & cash-secured put scanner. PANW is currently trading at $323.79 and trading above all four key moving averages (50/100/150/200-day) — a strong uptrend. This page shows the live PANW options chain across 3 expirations (2026-07-24 through 2026-08-07, DTE 1–15 days), optimized for cash-secured put and wheel strategy candidates. Next earnings: August 18, 2026 (25 days away).

Highlight criteria: Yield% ≥ 50% | Buffer% ≥ 15% | ATR/Dist ≥ 2.5

2026-07-24

DTE 1 | Trading days: 1

Strike	Mid	Bid	ATR/Dist	Buffer%	Yield%	Premium
165.00	160.85	156.80	9.07	49.0%	35582.0%	160.85
170.00	153.52	149.65	8.78	47.5%	32961.6%	153.52
175.00	148.98	145.60	8.5	46.0%	31073.0%	148.98
180.00	143.52	139.65	8.21	44.4%	29102.7%	143.52
185.00	138.52	134.65	7.93	42.9%	27329.6%	138.52
190.00	133.52	129.65	7.64	41.3%	25649.9%	133.52
195.00	128.52	124.65	7.36	39.8%	24056.3%	128.52
200.00	123.52	119.65	7.07	38.2%	22542.4%	123.52
205.00	118.52	114.65	6.79	36.7%	21102.3%	118.52
210.00	113.52	109.65	6.5	35.1%	19730.9%	113.52
215.00	108.52	104.65	6.21	33.6%	18423.2%	108.52
220.00	103.52	99.65	5.93	32.1%	17174.9%	103.52
225.00	98.52	94.65	5.64	30.5%	15982.1%	98.52
230.00	93.52	89.65	5.36	29.0%	14841.2%	93.52
235.00	88.52	84.65	5.07	27.4%	13748.9%	88.52
240.00	83.52	79.65	4.79	25.9%	12702.0%	83.52
245.00	78.53	74.65	4.5	24.3%	11699.4%	78.53
250.00	73.47	69.65	4.22	22.8%	10726.6%	73.47
257.50	66.03	62.15	3.79	20.5%	9359.6%	66.03
260.00	63.53	59.65	3.64	19.7%	8918.6%	63.53
265.00	58.52	54.65	3.36	18.2%	8060.3%	58.52
267.50	56.02	52.15	3.22	17.4%	7643.9%	56.02
270.00	53.52	49.65	3.07	16.6%	7235.1%	53.52
275.00	48.52	44.65	2.79	15.1%	6439.9%	48.52
277.50	46.02	42.15	2.64	14.3%	6053.1%	46.02
280.00	43.52	39.65	2.5	13.5%	5673.1%	43.52
285.00	38.52	34.65	2.22	12.0%	4933.3%	38.52
290.00	33.52	29.65	1.93	10.4%	4218.9%	33.52
295.00	29.00	25.65	1.64	8.9%	3588.1%	29.00
300.00	23.50	20.80	1.36	7.3%	2859.2%	23.50
305.00	18.50	14.65	1.07	5.8%	2213.9%	18.50
307.50	16.02	12.15	0.93	5.0%	1901.6%	16.02
310.00	13.62	9.90	0.79	4.3%	1603.6%	13.62
312.50	11.02	7.15	0.64	3.5%	1287.1%	11.02
315.00	8.52	4.65	0.5	2.7%	987.2%	8.52
317.50	5.88	2.40	0.36	1.9%	676.0%	5.88
320.00	3.78	0.72	0.22	1.2%	431.2%	3.78
322.50	1.72	1.20	0.07	0.4%	194.7%	1.72
325.00	0.17	0.01	-0.07	-0.4%	19.1%	0.17
315.00	0.18	0.01	0.5	2.7%	20.9%	0.18
317.50	0.36	0.01	0.36	1.9%	41.4%	0.36
322.50	0.12	0.01	0.07	0.4%	13.6%	0.12
325.00	1.88	0.72	-0.07	-0.4%	211.1%	1.88
327.50	5.19	2.38	-0.21	-1.1%	578.4%	5.19
330.00	7.02	3.70	-0.35	-1.9%	776.5%	7.02
332.50	9.27	6.35	-0.5	-2.7%	1017.6%	9.27
335.00	12.05	8.75	-0.64	-3.5%	1312.9%	12.05
337.50	14.27	12.40	-0.78	-4.2%	1543.3%	14.27
340.00	16.48	12.60	-0.93	-5.0%	1769.2%	16.48
342.50	18.98	15.10	-1.07	-5.8%	2022.7%	18.98
345.00	21.48	17.60	-1.21	-6.6%	2272.5%	21.48
347.50	24.42	21.00	-1.35	-7.3%	2565.0%	24.42
350.00	26.48	22.60	-1.5	-8.1%	2761.5%	26.48
352.50	28.98	25.10	-1.64	-8.9%	3000.8%	28.98
355.00	31.48	27.60	-1.78	-9.6%	3236.7%	31.48
357.50	33.98	30.10	-1.93	-10.4%	3469.3%	33.98
360.00	36.48	32.60	-2.07	-11.2%	3698.7%	36.48
362.50	38.98	35.10	-2.21	-12.0%	3924.9%	38.98
365.00	41.48	37.60	-2.35	-12.7%	4148.0%	41.48
367.50	43.98	40.10	-2.5	-13.5%	4368.1%	43.98
370.00	46.48	42.60	-2.64	-14.3%	4585.2%	46.48
372.50	48.98	45.10	-2.78	-15.0%	4799.4%	48.98
375.00	51.48	47.60	-2.93	-15.8%	5010.7%	51.48
377.50	53.98	50.10	-3.07	-16.6%	5219.3%	53.98
380.00	57.05	53.75	-3.21	-17.4%	5479.8%	57.05
382.50	58.98	55.10	-3.35	-18.1%	5628.2%	58.98
385.00	61.47	57.60	-3.5	-18.9%	5827.7%	61.47
387.50	63.97	60.10	-3.64	-19.7%	6025.6%	63.97
395.00	71.47	67.60	-4.07	-22.0%	6604.2%	71.47
400.00	76.47	72.60	-4.35	-23.5%	6977.9%	76.47
402.50	78.97	75.10	-4.5	-24.3%	7161.3%	78.97
410.00	86.48	82.60	-4.92	-26.6%	7698.8%	86.48
412.50	89.55	86.25	-5.07	-27.4%	7923.8%	89.55
415.00	91.48	87.60	-5.21	-28.2%	8045.8%	91.48
417.50	94.52	91.25	-5.35	-28.9%	8263.4%	94.52
422.50	99.55	96.25	-5.64	-30.5%	8600.2%	99.55
425.00	102.05	98.75	-5.78	-31.3%	8764.3%	102.05
427.50	103.98	100.10	-5.92	-32.0%	8877.8%	103.98
430.00	107.05	103.75	-6.07	-32.8%	9086.8%	107.05
440.00	116.48	112.60	-6.64	-35.9%	9662.5%	116.48
450.00	126.48	122.60	-7.21	-39.0%	10258.9%	126.48
460.00	136.48	132.60	-7.78	-42.1%	10829.4%	136.48
470.00	146.48	142.60	-8.35	-45.2%	11375.6%	146.48
490.00	166.48	162.60	-9.49	-51.3%	12401.1%	166.48
510.00	186.48	182.60	-10.64	-57.5%	13346.1%	186.48
520.00	196.68	193.00	-11.21	-60.6%	13805.4%	196.68
550.00	226.48	222.60	-12.92	-69.9%	15030.0%	226.48

2026-07-31

DTE 8 | Trading days: 6

Strike	Mid	Bid	ATR/Dist	Buffer%	Yield%	Premium
165.00	158.65	154.80	9.07	49.0%	4386.9%	158.65
170.00	156.05	151.95	8.78	47.5%	4188.1%	156.05
175.00	148.18	144.80	8.5	46.0%	3863.3%	148.18
180.00	143.62	139.80	8.21	44.4%	3640.4%	143.62
185.00	141.00	137.00	7.93	42.9%	3477.4%	141.00
190.00	134.50	131.45	7.64	41.3%	3229.8%	134.50
195.00	129.50	126.45	7.36	39.8%	3030.0%	129.50
200.00	123.68	119.80	7.07	38.2%	2821.5%	123.68
205.00	118.68	114.80	6.79	36.7%	2641.4%	118.68
210.00	113.70	109.85	6.5	35.1%	2470.3%	113.70
215.00	108.70	104.85	6.21	33.6%	2306.7%	108.70
220.00	103.70	99.85	5.93	32.1%	2150.6%	103.70
225.00	98.72	94.85	5.64	30.5%	2001.8%	98.72
230.00	94.55	91.50	5.36	29.0%	1875.6%	94.55
235.00	88.72	84.85	5.07	27.4%	1722.5%	88.72
240.00	83.75	79.90	4.79	25.9%	1592.1%	83.75
245.00	78.75	74.90	4.5	24.3%	1466.5%	78.75
250.00	73.78	69.90	4.22	22.8%	1346.5%	73.78
255.00	68.80	64.95	3.93	21.2%	1231.0%	68.80
260.00	63.82	59.95	3.64	19.7%	1119.9%	63.82
265.00	58.90	55.05	3.36	18.2%	1014.1%	58.90
270.00	53.98	50.10	3.07	16.6%	912.2%	53.98
275.00	48.58	45.25	2.79	15.1%	806.0%	48.58
280.00	44.30	40.40	2.5	13.5%	721.9%	44.30
285.00	39.58	35.70	2.22	12.0%	633.6%	39.58
290.00	35.10	31.10	1.93	10.4%	552.2%	35.10
295.00	30.45	26.40	1.64	8.9%	470.9%	30.45
300.00	26.35	22.55	1.36	7.3%	400.7%	26.35
305.00	22.55	20.70	1.07	5.8%	337.3%	22.55
307.50	20.50	18.90	0.93	5.0%	304.2%	20.50
310.00	18.88	17.50	0.79	4.3%	277.9%	18.88
312.50	17.08	15.55	0.64	3.5%	249.4%	17.08
315.00	15.68	14.35	0.5	2.7%	227.1%	15.68
317.50	14.08	12.65	0.36	1.9%	202.3%	14.08
320.00	12.20	11.30	0.22	1.2%	173.9%	12.20
322.50	11.38	10.85	0.07	0.4%	161.0%	11.38
325.00	10.05	9.60	-0.07	-0.4%	141.1%	10.05
327.50	8.88	8.45	-0.21	-1.1%	123.7%	8.88
330.00	7.75	7.30	-0.35	-1.9%	107.1%	7.75
332.50	6.88	6.50	-0.5	-2.7%	94.4%	6.88
335.00	5.98	5.55	-0.64	-3.5%	81.4%	5.98
337.50	5.40	4.85	-0.78	-4.2%	73.0%	5.40
340.00	4.25	3.60	-0.93	-5.0%	57.0%	4.25
342.50	3.85	3.55	-1.07	-5.8%	51.3%	3.85
345.00	3.08	2.52	-1.21	-6.6%	40.7%	3.08
347.50	3.10	2.61	-1.35	-7.3%	40.7%	3.10
350.00	2.23	1.75	-1.5	-8.1%	29.1%	2.23
352.50	2.00	1.38	-1.64	-8.9%	25.9%	2.00
355.00	2.02	1.66	-1.78	-9.6%	26.0%	2.02
357.50	1.50	0.95	-1.93	-10.4%	19.1%	1.50
360.00	1.23	1.00	-2.07	-11.2%	15.6%	1.23
362.50	0.88	0.55	-2.21	-12.0%	11.1%	0.88
365.00	0.76	0.48	-2.35	-12.7%	9.5%	0.76
367.50	0.82	0.38	-2.5	-13.5%	10.2%	0.82
370.00	0.56	0.17	-2.64	-14.3%	6.9%	0.56
372.50	0.64	0.23	-2.78	-15.0%	7.8%	0.64
375.00	0.51	0.30	-2.93	-15.8%	6.2%	0.51
377.50	0.70	0.02	-3.07	-16.6%	8.5%	0.70
380.00	0.55	0.01	-3.21	-17.4%	6.6%	0.55
382.50	0.26	0.05	-3.35	-18.1%	3.1%	0.26
385.00	0.57	0.28	-3.5	-18.9%	6.8%	0.57
387.50	0.52	0.01	-3.64	-19.7%	6.1%	0.52
392.50	0.49	0.01	-3.92	-21.2%	5.7%	0.49
395.00	0.41	0.01	-4.07	-22.0%	4.7%	0.41
400.00	0.42	0.15	-4.35	-23.5%	4.8%	0.42
402.50	0.62	0.12	-4.5	-24.3%	7.0%	0.62
405.00	0.18	0.01	-4.64	-25.1%	2.0%	0.18
407.50	0.22	0.01	-4.78	-25.9%	2.5%	0.22
410.00	1.22	0.09	-4.92	-26.6%	13.6%	1.22
415.00	0.28	0.04	-5.21	-28.2%	3.1%	0.28
420.00	0.52	0.05	-5.5	-29.7%	5.6%	0.52
230.00	0.06	0.01	5.36	29.0%	1.2%	0.06
235.00	0.33	0.01	5.07	27.4%	6.4%	0.33
240.00	0.18	0.01	4.79	25.9%	3.4%	0.18
245.00	0.15	0.01	4.5	24.3%	2.8%	0.15
260.00	0.14	0.08	3.64	19.7%	2.5%	0.14
265.00	0.54	0.10	3.36	18.2%	9.3%	0.54
270.00	0.30	0.01	3.07	16.6%	5.1%	0.30
275.00	0.24	0.01	2.79	15.1%	4.0%	0.24
280.00	0.44	0.18	2.5	13.5%	7.2%	0.44
282.50	0.72	0.26	2.36	12.8%	11.6%	0.72
285.00	0.85	0.60	2.22	12.0%	13.6%	0.85
287.50	1.06	0.57	2.07	11.2%	16.8%	1.06
290.00	1.20	0.79	1.93	10.4%	18.9%	1.20
292.50	1.69	1.30	1.79	9.7%	26.4%	1.69
295.00	2.00	1.57	1.64	8.9%	30.9%	2.00
297.50	2.23	1.63	1.5	8.1%	34.2%	2.23
300.00	2.56	2.37	1.36	7.3%	38.9%	2.56
302.50	2.98	2.67	1.22	6.6%	44.9%	2.98
305.00	3.24	2.68	1.07	5.8%	48.5%	3.24
307.50	4.18	3.85	0.93	5.0%	62.0%	4.18
310.00	4.70	3.90	0.79	4.3%	69.2%	4.70
312.50	5.68	5.30	0.64	3.5%	82.9%	5.68
315.00	6.55	5.40	0.5	2.7%	94.9%	6.55
317.50	7.88	7.10	0.36	1.9%	113.2%	7.88
320.00	8.73	8.05	0.22	1.2%	124.5%	8.73
322.50	9.78	9.30	0.07	0.4%	138.4%	9.78
325.00	11.00	10.50	-0.07	-0.4%	154.4%	11.00
327.50	12.82	11.95	-0.21	-1.1%	178.6%	12.82
330.00	13.60	12.20	-0.35	-1.9%	188.0%	13.60
332.50	15.55	14.50	-0.5	-2.7%	213.4%	15.55
335.00	16.77	15.10	-0.64	-3.5%	228.4%	16.77
337.50	19.20	17.90	-0.78	-4.2%	259.6%	19.20
340.00	20.50	19.15	-0.93	-5.0%	275.1%	20.50
342.50	22.40	20.40	-1.07	-5.8%	298.4%	22.40
345.00	24.90	23.35	-1.21	-6.6%	329.3%	24.90
347.50	26.98	23.50	-1.35	-7.3%	354.2%	26.98
350.00	28.72	24.80	-1.5	-8.1%	374.4%	28.72
352.50	30.78	26.60	-1.64	-8.9%	398.4%	30.78
355.00	32.25	29.00	-1.78	-9.6%	414.5%	32.25
357.50	35.78	32.15	-1.93	-10.4%	456.6%	35.78
360.00	37.55	33.65	-2.07	-11.2%	475.9%	37.55
362.50	40.40	37.05	-2.21	-12.0%	508.5%	40.40
365.00	42.00	39.45	-2.35	-12.7%	525.0%	42.00
367.50	45.18	41.85	-2.5	-13.5%	560.9%	45.18
370.00	47.02	43.15	-2.64	-14.3%	579.8%	47.02
375.00	51.85	48.00	-2.93	-15.8%	630.8%	51.85
377.50	54.82	51.50	-3.07	-16.6%	662.6%	54.82
380.00	56.72	52.85	-3.21	-17.4%	681.0%	56.72
385.00	62.20	58.90	-3.5	-18.9%	737.1%	62.20
390.00	66.60	62.75	-3.78	-20.4%	779.1%	66.60
395.00	71.55	67.70	-4.07	-22.0%	826.4%	71.55
400.00	76.53	72.65	-4.35	-23.5%	872.9%	76.53
405.00	81.50	77.65	-4.64	-25.1%	918.1%	81.50
410.00	86.50	82.65	-4.92	-26.6%	962.6%	86.50
415.00	91.48	87.60	-5.21	-28.2%	1005.7%	91.48
417.50	93.98	90.10	-5.35	-28.9%	1027.0%	93.98
420.00	96.48	92.60	-5.5	-29.7%	1048.1%	96.48
425.00	101.48	97.60	-5.78	-31.3%	1089.4%	101.48
427.50	103.98	100.10	-5.92	-32.0%	1109.7%	103.98
430.00	106.57	102.60	-6.07	-32.8%	1130.8%	106.57
437.50	113.98	110.10	-6.5	-35.1%	1188.6%	113.98
440.00	117.05	113.75	-6.64	-35.9%	1213.7%	117.05
445.00	121.48	117.60	-6.92	-37.4%	1245.5%	121.48
447.50	123.90	119.75	-7.07	-38.2%	1263.2%	123.90
450.00	126.48	122.60	-7.21	-39.0%	1282.4%	126.48
470.00	147.05	143.75	-8.35	-45.2%	1427.5%	147.05
480.00	156.48	152.60	-8.92	-48.2%	1487.4%	156.48
490.00	167.08	163.80	-9.49	-51.3%	1555.7%	167.08
500.00	176.48	172.60	-10.07	-54.4%	1610.4%	176.48

2026-08-07

DTE 15 | Trading days: 11

Strike	Mid	Bid	ATR/Dist	Buffer%	Yield%	Premium
170.00	153.78	149.90	8.78	47.5%	2201.2%	153.78
175.00	148.88	145.10	8.5	46.0%	2070.1%	148.88
180.00	143.80	139.95	8.21	44.4%	1944.0%	143.80
185.00	138.82	134.95	7.93	42.9%	1825.9%	138.82
200.00	123.78	120.00	7.07	38.2%	1506.0%	123.78
220.00	103.92	100.05	5.93	32.1%	1149.4%	103.92
225.00	98.95	95.10	5.64	30.5%	1070.1%	98.95
235.00	89.02	85.15	5.07	27.4%	921.8%	89.02
240.00	84.90	81.85	4.79	25.9%	860.8%	84.90
245.00	79.18	75.30	4.5	24.3%	786.4%	79.18
250.00	74.25	70.40	4.22	22.8%	722.7%	74.25
255.00	69.38	65.50	3.93	21.2%	662.1%	69.38
260.00	64.53	60.65	3.64	19.7%	603.9%	64.53
265.00	60.58	57.55	3.36	18.2%	556.3%	60.58
270.00	55.85	52.80	3.07	16.6%	503.3%	55.85
275.00	49.95	46.65	2.79	15.1%	442.0%	49.95
280.00	45.98	43.20	2.5	13.5%	399.6%	45.98
285.00	42.45	39.30	2.22	12.0%	362.4%	42.45
290.00	38.22	35.10	1.93	10.4%	320.7%	38.22
295.00	32.58	29.15	1.64	8.9%	268.7%	32.58
300.00	29.75	27.65	1.36	7.3%	241.3%	29.75
305.00	26.60	25.40	1.07	5.8%	212.2%	26.60
310.00	22.85	21.40	0.79	4.3%	179.4%	22.85
315.00	19.68	18.00	0.5	2.7%	152.0%	19.68
320.00	16.80	15.25	0.22	1.2%	127.8%	16.80
322.50	15.75	14.50	0.07	0.4%	118.8%	15.75
325.00	14.12	13.55	-0.07	-0.4%	105.7%	14.12
327.50	13.12	11.75	-0.21	-1.1%	97.5%	13.12
330.00	12.38	11.35	-0.35	-1.9%	91.3%	12.38
335.00	10.35	9.35	-0.64	-3.5%	75.2%	10.35
340.00	8.30	7.05	-0.93	-5.0%	59.4%	8.30
342.50	7.98	7.20	-1.07	-5.8%	56.7%	7.98
345.00	7.02	6.50	-1.21	-6.6%	49.5%	7.02
347.50	6.18	5.00	-1.35	-7.3%	43.3%	6.18
350.00	5.57	5.05	-1.5	-8.1%	38.7%	5.57
352.50	5.00	3.90	-1.64	-8.9%	34.5%	5.00
355.00	4.47	3.40	-1.78	-9.6%	30.6%	4.47
357.50	4.10	3.35	-1.93	-10.4%	27.9%	4.10
360.00	3.78	3.20	-2.07	-11.2%	25.5%	3.78
362.50	3.15	2.25	-2.21	-12.0%	21.1%	3.15
365.00	2.89	1.93	-2.35	-12.7%	19.3%	2.89
367.50	2.50	1.65	-2.5	-13.5%	16.6%	2.50
370.00	2.48	1.92	-2.64	-14.3%	16.3%	2.48
372.50	2.33	1.87	-2.78	-15.0%	15.2%	2.33
375.00	2.05	1.44	-2.93	-15.8%	13.3%	2.05
377.50	1.58	0.82	-3.07	-16.6%	10.2%	1.58
380.00	1.48	0.81	-3.21	-17.4%	9.5%	1.48
385.00	1.25	0.67	-3.5	-18.9%	7.9%	1.25
387.50	1.08	0.47	-3.64	-19.7%	6.8%	1.08
390.00	1.01	0.45	-3.78	-20.4%	6.3%	1.01
395.00	1.63	0.60	-4.07	-22.0%	10.0%	1.63
400.00	1.45	0.65	-4.35	-23.5%	8.8%	1.45
405.00	2.18	0.01	-4.64	-25.1%	13.1%	2.18
410.00	0.86	0.01	-4.92	-26.6%	5.1%	0.86
415.00	2.28	0.01	-5.21	-28.2%	13.4%	2.28
420.00	1.76	0.08	-5.5	-29.7%	10.2%	1.76
430.00	1.31	0.25	-6.07	-32.8%	7.4%	1.31
450.00	0.67	0.10	-7.21	-39.0%	3.6%	0.67
470.00	0.06	0.01	-8.35	-45.2%	0.3%	0.06
175.00	0.28	0.04	8.5	46.0%	3.9%	0.28
255.00	0.66	0.01	3.93	21.2%	6.3%	0.66
265.00	0.84	0.25	3.36	18.2%	7.7%	0.84
270.00	1.06	0.66	3.07	16.6%	9.6%	1.06
275.00	1.39	0.88	2.79	15.1%	12.3%	1.39
280.00	1.90	1.51	2.5	13.5%	16.5%	1.90
285.00	2.84	2.23	2.22	12.0%	24.2%	2.84
290.00	3.22	2.63	1.93	10.4%	27.0%	3.22
295.00	4.30	3.75	1.64	8.9%	35.5%	4.30
300.00	5.72	5.25	1.36	7.3%	46.4%	5.72
305.00	6.82	6.35	1.07	5.8%	54.4%	6.82
310.00	8.82	8.05	0.79	4.3%	69.2%	8.82
312.50	9.88	8.90	0.64	3.5%	76.9%	9.88
315.00	10.90	10.00	0.5	2.7%	84.2%	10.90
317.50	11.95	11.05	0.36	1.9%	91.6%	11.95
320.00	12.73	11.40	0.22	1.2%	96.8%	12.73
322.50	14.12	12.95	0.07	0.4%	106.5%	14.12
325.00	15.30	14.10	-0.07	-0.4%	114.6%	15.30
327.50	16.82	15.60	-0.21	-1.1%	125.0%	16.82
330.00	17.75	16.05	-0.35	-1.9%	130.9%	17.75
335.00	21.33	20.05	-0.64	-3.5%	154.9%	21.33
340.00	24.72	23.30	-0.93	-5.0%	176.9%	24.72
342.50	26.40	25.15	-1.07	-5.8%	187.6%	26.40
345.00	27.60	25.40	-1.21	-6.6%	194.7%	27.60
347.50	30.18	28.85	-1.35	-7.3%	211.3%	30.18
350.00	31.02	29.00	-1.5	-8.1%	215.7%	31.02
352.50	33.83	31.95	-1.64	-8.9%	233.5%	33.83
355.00	35.30	32.80	-1.78	-9.6%	242.0%	35.30
357.50	37.35	34.80	-1.93	-10.4%	254.2%	37.35
360.00	40.12	36.45	-2.07	-11.2%	271.2%	40.12
365.00	43.75	40.80	-2.35	-12.7%	291.7%	43.75
367.50	46.62	43.00	-2.5	-13.5%	308.7%	46.62
370.00	49.52	46.80	-2.64	-14.3%	325.7%	49.52
372.50	50.62	46.55	-2.78	-15.0%	330.7%	50.62
375.00	52.72	50.00	-2.93	-15.8%	342.1%	52.72
377.50	55.25	51.15	-3.07	-16.6%	356.1%	55.25
380.00	58.10	54.75	-3.21	-17.4%	372.0%	58.10
385.00	62.85	59.50	-3.5	-18.9%	397.2%	62.85
390.00	67.12	63.25	-3.78	-20.4%	418.8%	67.12
395.00	71.97	68.10	-4.07	-22.0%	443.4%	71.97
400.00	76.88	73.00	-4.35	-23.5%	467.7%	76.88
405.00	81.80	77.95	-4.64	-25.1%	491.5%	81.80
415.00	92.22	88.90	-5.21	-28.2%	540.7%	92.22
420.00	97.18	93.85	-5.5	-29.7%	563.0%	97.18
425.00	101.58	97.70	-5.78	-31.3%	581.6%	101.58
440.00	116.52	112.65	-6.64	-35.9%	644.4%	116.52
450.00	126.50	122.65	-7.21	-39.0%	684.0%	126.50
460.00	136.50	132.65	-7.78	-42.1%	722.1%	136.50
470.00	146.48	142.60	-8.35	-45.2%	758.4%	146.48
480.00	156.40	152.40	-8.92	-48.2%	792.9%	156.40
490.00	167.05	163.75	-9.49	-51.3%	829.6%	167.05
500.00	176.48	172.60	-10.07	-54.4%	858.9%	176.48
510.00	186.48	182.60	-10.64	-57.5%	889.7%	186.48

PANW — Cash-Secured Put & Wheel Strategy FAQ

What is the best PANW cash-secured put strike today?

OptionSpeed's scanner highlights PANW strikes that meet our three filters: annualized yield ≥ 50%, downside buffer ≥ 15%, and ATR/Distance ratio ≥ 2.5. Stars on this page mark strikes currently in our Super Stocks cache. As of this snapshot, the highest-yielding CSP candidate on PANW is the $320.00 strike at 431.2% annualized.

Is PANW a good wheel strategy stock right now?

PANW is trading at $323.79 with an ATR of $17.51. PANW is trading above all four key moving averages (50/100/150/200-day) — a strong uptrend. Next earnings report is August 18, 2026 (25 days away). Earnings is far enough out that current premiums reflect normal implied volatility.

How much capital do I need to sell a PANW cash-secured put?

Cash-secured puts require you to hold enough cash to buy 100 shares at the strike price if assigned. For a $320.00 strike on PANW, you need $32,000 in cash per contract. Strikes closer to the current $323.79 price require more capital but offer higher premiums and lower assignment probability.

What does the wheel strategy look like on PANW?

The wheel on PANW follows three steps: (1) sell a CSP at a strike you'd be comfortable owning PANW at; (2) if assigned, you own 100 shares at the strike price; (3) sell covered calls against those shares to collect premium while waiting for the call to expire worthless or the stock to be called away. OptionSpeed tracks every step so you can see your rolling premium and realized P&L.

Should I close my PANW CSP before earnings?

Most wheel traders close or roll CSPs 1–2 days before earnings because implied volatility typically collapses after the announcement (IV crush). The premium you collected is largely an upfront payment for accepting that volatility risk. Holding through earnings exposes you to gap risk — even if your strike isn't breached, the IV drop alone can wipe out most of your collected premium.

What's a good buffer percentage for PANW puts?

Buffer percentage measures how far the strike is below the current stock price. For PANW at $323.79, a strike at $300.00 gives the largest downside buffer in our current chain. OptionSpeed flags strikes with ≥15% buffer as wheel-quality candidates. Lower buffer = higher premium but higher assignment probability.