The author is holding a 100% portfolio concentration in PALU (2x leveraged Palo Alto Networks) with an average cost of $33.60, anticipating a positive catalyst from PANW earnings. Options data implies a 10.5% move for PANW, which could result in a +/- 21% swing for PALU. The bullish thesis relies on organic growth in next-gen security and market strength in category leaders like SNOW, DELL, HPE, NOW, NET, and DDOG.