A whale with a lot of money to spend has taken a noticeably bearish stance on Fortinet.

Looking at options history for Fortinet (NASDAQ:FTNT) we detected 13 strange 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, 3 are puts, for a total amount of $139,210 and 10, calls, for a total amount of $404,280.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $48.0 to $75.0 for Fortinet over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Fortinet's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Fortinet's whale trades within a strike price range from $48.0 to $75.0 in the last 30 days.

Fortinet Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is Fortinet Standing Right Now?

• With a volume of 6,165,947, the price of FTNT is down -1.12% at $59.88.
• RSI indicators hint that the underlying stock may be oversold.
• Next earnings are expected to be released in 82 days.

What The Experts Say On Fortinet:

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.