Fortinet Unusual Options Activity

Financial giants have made a conspicuous bearish move on Fortinet. Our analysis of options history for Fortinet FTNT revealed 8 unusual trades.

Delving into the details, we found 37% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $154,235, and 5 were calls, valued at $280,621.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $75.0 to $105.0 for Fortinet over the last 3 months.

Volume & Open Interest Trends

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 $75.0 to $105.0 over the preceding 30 days.

Fortinet 30-Day Option Volume & Interest Snapshot

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.

After a thorough review of the options trading surrounding Fortinet, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Fortinet

• With a volume of 1,061,058, the price of FTNT is up 0.17% at $98.21.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 54 days.

Professional Analyst Ratings for Fortinet

5 market experts have recently issued ratings for this stock, with a consensus target price of $101.0.

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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 Baird has decided to maintain their Outperform rating on Fortinet, which currently sits at a price target of $100. * Maintaining their stance, an analyst from TD Cowen continues to hold a Buy rating for Fortinet, targeting a price of $105. * An analyst from Wedbush has decided to maintain their Outperform rating on Fortinet, which currently sits at a price target of $105. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Outperform rating for Fortinet, targeting a price of $110. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Fortinet with a target price of $85.

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.