Smart Money Is Betting Big In FTNT Options

Investors with a lot of money to spend have taken a bullish stance on Fortinet FTNT.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with FTNT, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 9 uncommon options trades for Fortinet.

This isn't normal.

The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $129,375, and 7 are calls, for a total amount of $264,878.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $79.0 to $100.0 for Fortinet during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Fortinet's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Fortinet's significant trades, within a strike price range of $79.0 to $100.0, over the past month.

Fortinet Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

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.

Fortinet's Current Market Status

• With a volume of 1,237,637, the price of FTNT is up 3.32% at $95.1.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 85 days.

What The Experts Say On Fortinet

In the last month, 5 experts released ratings on this stock with an average target price of $82.2.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Mizuho downgraded its action to Underperform with a price target of $68. * Consistent in their evaluation, an analyst from Wedbush keeps a Outperform rating on Fortinet with a target price of $90. * An analyst from Truist Securities persists with their Buy rating on Fortinet, maintaining a target price of $85. * Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Fortinet with a target price of $85. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Fortinet with a target price of $83.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Fortinet, Benzinga Pro gives you real-time options trades alerts.