Deep-pocketed investors have adopted a bullish approach towards Fortinet FTNT, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in FTNT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Fortinet. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 72% leaning bullish and 22% bearish. Among these notable options, 5 are puts, totaling $291,612, and 17 are calls, amounting to $6,744,189.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $67.5 to $115.0 for Fortinet over the last 3 months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Fortinet options trades today is 1575.43 with a total volume of 8,406.00.
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 $67.5 to $115.0 over the last 30 days.
Fortinet 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FTNT | CALL | TRADE | BULLISH | 01/15/27 | $33.45 | $32.65 | $33.2 | $100.00 | $2.4M | 8.2K | 1.3K |
| FTNT | CALL | TRADE | BULLISH | 01/15/27 | $33.7 | $31.65 | $33.4 | $100.00 | $668.0K | 8.2K | 800 |
| FTNT | CALL | TRADE | BULLISH | 01/15/27 | $33.75 | $31.95 | $33.4 | $100.00 | $557.7K | 8.2K | 633 |
| FTNT | CALL | SWEEP | BEARISH | 01/15/27 | $33.45 | $33.1 | $33.1 | $100.00 | $383.9K | 8.2K | 1.3K |
| FTNT | CALL | SWEEP | BULLISH | 01/15/27 | $34.0 | $32.15 | $34.0 | $100.00 | $340.0K | 8.2K | 0 |
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 800,000 customers across the world.
In light of the recent options history for Fortinet, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Fortinet
- Currently trading with a volume of 3,369,347, the FTNT's price is down by -0.56%, now at $109.4.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 66 days.
What The Experts Say On Fortinet
In the last month, 5 experts released ratings on this stock with an average target price of $122.4.
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. * Reflecting concerns, an analyst from Baird lowers its rating to Neutral with a new price target of $112. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on Fortinet with a target price of $105. * An analyst from Scotiabank has decided to maintain their Sector Outperform rating on Fortinet, which currently sits at a price target of $135. * An analyst from Piper Sandler has revised its rating downward to Overweight, adjusting the price target to $135. * Consistent in their evaluation, an analyst from Rosenblatt keeps a Buy rating on Fortinet with a target price of $125.
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.
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