Whales with a lot of money to spend have taken a noticeably bearish stance on Fortinet.
Looking at options history for Fortinet FTNT we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $239,932 and 7, calls, for a total amount of $283,677.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $60.0 to $80.0 for Fortinet during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Fortinet's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Fortinet's substantial trades, within a strike price spectrum from $60.0 to $80.0 over the preceding 30 days.
Fortinet Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FTNT | PUT | SWEEP | BEARISH | 01/17/25 | $65.00 | $68.3K | 2.6K | 86 |
| FTNT | CALL | SWEEP | BEARISH | 03/15/24 | $60.00 | $56.4K | 1.8K | 24 |
| FTNT | CALL | SWEEP | BULLISH | 04/19/24 | $65.00 | $48.0K | 0 | 80 |
| FTNT | PUT | SWEEP | BEARISH | 01/26/24 | $67.00 | $41.8K | 7 | 491 |
| FTNT | CALL | TRADE | BULLISH | 02/09/24 | $68.00 | $41.8K | 132 | 238 |
About Fortinet
Fortinet is a platform-based cybersecurity vendor with product offerings covering network security, cloud security, zero-trust access, and security operations. The firm derives a majority of its revenue through sales of its subscriptions and support-based business. The California-based firm has more than 700,000 customers across the world.
Following our analysis of the options activities associated with Fortinet, we pivot to a closer look at the company's own performance.
Current Position of Fortinet
- With a volume of 4,681,512, the price of FTNT is up 3.04% at $66.36.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 13 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Fortinet options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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