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 53% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $350,223 and 8, calls, for a total amount of $749,987.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $90.0 and $115.0 for Fortinet, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Fortinet options trades today is 485.77 with a total volume of 2,351.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Fortinet's big money trades within a strike price range of $90.0 to $115.0 over the last 30 days.
Fortinet Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FTNT | CALL | SWEEP | BEARISH | 02/14/25 | $5.25 | $5.2 | $5.2 | $105.00 | $231.8K | 260 | 511 |
| FTNT | CALL | SWEEP | BULLISH | 02/07/25 | $4.8 | $4.7 | $4.8 | $105.00 | $213.9K | 370 | 496 |
| FTNT | PUT | TRADE | BEARISH | 01/16/26 | $8.4 | $8.0 | $8.35 | $90.00 | $208.7K | 321 | 251 |
| FTNT | CALL | SWEEP | BULLISH | 02/07/25 | $10.1 | $9.9 | $10.05 | $95.00 | $125.6K | 98 | 125 |
| FTNT | CALL | TRADE | BULLISH | 02/21/25 | $9.05 | $9.0 | $9.05 | $97.50 | $54.3K | 917 | 64 |
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.
Fortinet's Current Market Status
- Currently trading with a volume of 2,468,532, the FTNT's price is up by 1.3%, now at $104.12.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 1 days.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Fortinet with Benzinga Pro for real-time alerts.
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